Reason for this visit

With an increasing number of Australians accepting and investing in cryptocurrencies the cryptocurrency market in Australia is rapidly growing, and as a result, cryptocurrency trading platforms emerges continuously. The Australian government and financial institutions have shown a strong interest in the application of blockchain technology and digital assets, which has facilitated market development. Australia takes a cautious regulatory approach to the cryptocurrency market, with the Australian Securities and Investments Commission (ASIC) responsible for regulating digital asset service providers and cryptocurrency trading platforms. ASIC requires relevant companies to comply with anti-money laundering (AML) and know-your-customer (KYC) regulations to ensure market compliance. As digital assets gradually move towards the mainstream, Australia is poised to become one of the important centers for global digital asset trading and innovation. The government will continue to strengthen regulation of the cryptocurrency market, promote healthy market development, and protect investor rights. With the expanding application of blockchain technology across various industries, the Australian cryptocurrency market is expected to attract more investment opportunities and innovative developments. In an attempt to help investors gain a comprehensive understanding of Australian cryptocurrency exchanges, WikiBit survey team is determined to go the country for on-site visits to local companies.

On-site visit

In this issue, the survey team went to Australia to visit cryptocurrency exchange ZIPMEX as planned according to its regulatory address that 52 Martin Place, Sydney, NSW 2000.

A seasoned and professional inspection team, committed to safeguarding investor interests, conducted a meticulously planned on-site verification of the cryptocurrency exchange ZIPMEX at 52 Martin Place in Sydney, Australia.

The investigators successfully arrived at 52 Martin Place, Sydney, based on the provided information. The address is located in the central business district (CBD) of Sydney, with an ordinary street environment surrounded mainly by financial institutions and office buildings. The pedestrian flow was moderate, showing no significant signs of either bustling activity or decay. The target building is a modern high-rise office tower with a clean exterior, exhibiting typical business office characteristics. No visible signage or logos related to “ZIPMEX” were found on the buildings exterior.

Subsequently, the inspection team attempted to enter the building but were informed by security personnel that prior appointment or access permission was required, ultimately preventing entry into the internal office areas. A check of the building‘s public directory revealed no listing for “ZIPMEX” in the tenant directory or floor information. Upon further inquiry with the building’s property management staff, they stated that they had no record of the company being a tenant.

Through the on-site investigation, it is confirmed that the company does not maintain a physical presence at the location.

Conclusion

The survey team went to Australia to visit cryptocurrency exchange ZIPMEX as planned but did not find the company at its regulatory address. This signifies that the company does not have a physical office at the place. Therefore, investors should be meticulous in choosing the exchange.

Disclaimer

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