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. In an attempt 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 MEXC as planned according to its regulatory address that 500 - 7030 Woodbine Avenue Markham, ON, Canada L3R6G2.

The investigators came to 7030 Woodbine Avenue in Markham of Ontario, Canada for a visit to the exchanges office on October 25, 2023, and located a modern high-rise commercial building in the less bustling street, which could be seen conspicuously from a distance.

Upon arrival at the building for further investigation, the survey personnel didn‘t spot security guards nor the reception area in the lobby. In the meantime, the digital directory didn’t show any information regarding “MEXC”. And multiple companies whose name starts with M were located in unit 500.

Upon access to unit 500, where MEXC‘s office was claimed to be located, the survey team didn’t discover any company name nor logo at the entrance. According to the receptionist working in the office, unit 500 was a co-working space, and they never heard of the company called “MEXC”.

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

Conclusion

The survey team went to Canada to visit cryptocurrency exchange MEXC, 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.

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