Reason for this visit

Canada is one of the most “crypto-friendly” countries in the world. Local cryptocurrency exchanges have been classified as institutions that provide financial services since the country passed a bill to completely legalize cryptocurrency in June 2020. As a result, Canada becomes the market that global crypto exchanges are competing for. To help investors get a more comprehensive understanding of the exchanges in Canada, WikiBit survey team decided to go to the country for on-site visits to the local companies.

On-site visit

In this issue, the investigation team went to Toronto, Canada to visit the cryptocurrency exchange Asproex (licensee: ASPRO EXCHANGE LTD.) as planned according to its regulatory address that 1370 Don Mills Road, Suite 300, Toronto, On, Canada, M3B3N7.

The survey personnel arrived at the destination on July 28 in Toronto, the largest city of Canada and the capital of Ontario. A building with pure glass curtain façade in a simple and fashionable style is situated at 1370 Don Mills Road, which can be accessed by public transportation. With a high green coverage rate, the nearby area provides a comfortable working environment, and there was little traffic on the streets nearby.

After entering the building without security guards and receptionists in the foyer, the investigators found from the company directory that Suite 300 was displayed, but there was no related information about exchange Asproex.

And then the survey team arrived at the target floor by elevator, where the floor directory didn‘t showcase anything about Asproex. There was no receptionist as well as any company’s name and logo at the door of Suite 300, which was supposed to be a shared office.

Through an on-site investigation, it is confirmed that the company doesnt have a presence there.

Conclusion

The survey personnel went to Toronto, Canada to visit cryptocurrency exchange Asproex, but didn‘t find the company at its regulatory address. It suggests that the company doesn’t have a physical business office or just registered at the location. Therefore, investors are advised to choose the exchange cautiously.

Disclaimer

The content is for informational purpose only, and shall not be taken as a final order for making a choice.