Reason for this visit
Canada is one of the most "crypto-friendly" countries in the world. In June 2020, the country passed a bill to completely legalize cryptocurrency, and cryptocurrency exchanges are classified as institutions that provide financial services. As a result, Canada has become the market that global crypto exchanges are competing for. To help investors or practitioners get a more comprehensive understanding of the local exchanges, the survey team decided to go to the Republic of Estonia for on-site visits.
This time the survey team visited the cryptocurrency exchange DOVEWALLET in Toronto, with specific address at 5TH FLOOR 100 UNIVERSITY AVE,Toronto, Canada.
According to the above address, the survey team came to the destination of this survey, a new office building located at 100 UNIVERSITY Avenue in Toronto, Canada. There was a electronic directory on the ground floor of the building. However, the team did not find the name or logo of the cryptocurrency exchange DOVEWALLET.
The team entered the building and found no one at the front desk. They came to ask the building security but were told that DOVEWALLET, the cryptocurrency exchange, did not work in the building. In addition, the team found that the building had shared office called WeWork. They further doubted if the exchange was operated in a shared office.
To further confirm whether the cryptocurrency exchange DOVEWALLET was located here, the team decided to visit upstairs. Unfortunately, due to the COVID-19, the surveyors were unable to access the elevator. Finally, they could not reach the 5th floor, nor could they enter the shared office WeWork for confirmation.
The survey team went to Toronto, Canada, to visit the cryptocurrency exchange DOVEWALLET. As result, they found no business premise of the exchange, which means the given business address might be fake. Or, the exchange might be a registered company at this address. Please be prudent if trading with this exchange.
The content is for informational purpose only, and shall not be taken as final order for making choice.
2-5 years | Suspicious Regulatory License | High potential risk