Nova Scotia Securities Commission Warns about CoinRise

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The Nova Scotia Securities Commission printed an investor alert for CoinRise, a cryptocurrency trade, yesterday. According to the authority, CoinRise (coinrise.ca) shouldn’t be registered with the fee or any related authority. Moreover, the corporate can’t interact within the enterprise of buying and selling in securities or derivatives within the area.

The fee famous that no less than one particular person has invested funds with CoinRise. The firm, which claims to be one of many fastest-growing crypto buying and selling platforms in Canada, processed solely a minimal quantity of the investor’s reported returns. CoinRise ignored the extra withdrawal requests.

CoinRise claims to be positioned in Halifax, Nova Scotia. Moreover, the crypto buying and selling platform has been flagged by the Financial and Consumer Affairs Authority of Saskatchewan (FCAA). CoinRise requested buyers to offer private info in the course of the account opening course of, together with their driver’s license, passport and bank card particulars.

“In addition to verifying registration, always take the time to search the internet for the entity and its representatives,” says Stephanie Atkinson, the Director of Enforcement for the Commission. “The internet can be a dangerous place to shop for investments but can also be a valuable tool for avoiding financial loss. A simple online search can reveal alerts and warnings, complaints, reviews and other useful information to help investors make informed investment decisions.”

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Investor Protection

Cryptocurrency scams have surged throughout Canada in the previous few years. To shield buyers towards rising fraudulent actions, the fee urged buyers to conduct due diligence earlier than investing determination.

“The Commission urges Nova Scotians to exercise extreme caution when dealing with unregistered entities and individuals. It is illegal to solicit investments in Nova Scotia without registration and compliance with Nova Scotia securities laws unless an exemption applies. To see if a person or company is registered, you can check the Canadian Securities Administrators’ National Registration Database,” the fee added.

The Nova Scotia Securities Commission printed an investor alert for CoinRise, a cryptocurrency trade, yesterday. According to the authority, CoinRise (coinrise.ca) shouldn’t be registered with the fee or any related authority. Moreover, the corporate can’t interact within the enterprise of buying and selling in securities or derivatives within the area.

The fee famous that no less than one particular person has invested funds with CoinRise. The firm, which claims to be one of many fastest-growing crypto buying and selling platforms in Canada, processed solely a minimal quantity of the investor’s reported returns. CoinRise ignored the extra withdrawal requests.

CoinRise claims to be positioned in Halifax, Nova Scotia. Moreover, the crypto buying and selling platform has been flagged by the Financial and Consumer Affairs Authority of Saskatchewan (FCAA). CoinRise requested buyers to offer private info in the course of the account opening course of, together with their driver’s license, passport and bank card particulars.

“In addition to verifying registration, always take the time to search the internet for the entity and its representatives,” says Stephanie Atkinson, the Director of Enforcement for the Commission. “The internet can be a dangerous place to shop for investments but can also be a valuable tool for avoiding financial loss. A simple online search can reveal alerts and warnings, complaints, reviews and other useful information to help investors make informed investment decisions.”

Related content material

Investor Protection

Cryptocurrency scams have surged throughout Canada in the previous few years. To shield buyers towards rising fraudulent actions, the fee urged buyers to conduct due diligence earlier than investing determination.

“The Commission urges Nova Scotians to exercise extreme caution when dealing with unregistered entities and individuals. It is illegal to solicit investments in Nova Scotia without registration and compliance with Nova Scotia securities laws unless an exemption applies. To see if a person or company is registered, you can check the Canadian Securities Administrators’ National Registration Database,” the fee added.

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