Reason for this visit

Canada is one of the most “crypto-friendly” countries in the world, with the government actively promoting the development of the digital economy, during which cryptocurrencies, as digital assets, play a significant role. Furthermore, Canada is home to multiple well-known cryptocurrency companies. In recent years, the Canadian government has invested substantial resources and money into research and applications of cryptocurrencies and blockchain technology, including decentralized identity authentication, smart contracts, and other areas, indicating that it will continue to play a crucial role in the era of digital economy in the future. As a result, Canada becomes one of the competitive markets for global crypto exchanges. To help investors gain a more comprehensive understanding of the exchanges in Canada, WikiBit survey team decides to go to the country for on-site visits to local companies.

On-site visit

In this issue, the survey team went to Canada to visit cryptocurrency exchange NashEx as planned according to its regulatory address that Suite 1404 No 450 Southwest Marine Drive Vancouver, BC, Canada V5X0C3.

The investigators came to No 450 Southwest Marine Drive in Vancouver of British Columbia in Canada for a visit to the exchanges office on November 2, 2023, and located a modern commercial building in close proximity to the street in a bustling district. Additionally, the location surrounded by a prosperous environment boasts the SkyTrain Station and a bus terminal.

Upon arrival at the building for further investigation, the survey personnel spotted security and a reception area in the lobby. However, the lobby directory didnt display any information regarding NashEx.

And then the investigation team proceeded to the 14th floor of the building, and discovered that there was only one company which looked more like a co-working space with access system on the floor, without any sign of NashEx.

From the directory on the 14th floor, it could be seen that there were 10 units possibly used for meeting, one of which was marked with “City of Vancouver, Engineering Services”. No receptionist was found at the entrance, and people werent allowed to enter unless you contacted the relevant company by phone. Confusingly, there was no information concerning unit 1404 nor NashEx upon searching the entire floor.

Through the on-site investigation, it is confirmed that NashEx doesnt have a presence at the location.

Conclusion

The survey team went to Canada to visit cryptocurrency exchange NashEx, but didnt find the company at its regulatory address. This suggests that the company might just register at the place without a physical business office. Therefore, investors should be meticulous in choosing the exchange.

Disclaimer

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