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Securities fee points warning about cryptocurrency buying and selling platform

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The Nova Scotia Securities Fee is warning Nova Scotians trying to make investments with cryptocurrency about claims made by CoinRise, a crypto buying and selling platform.

In a information launch Tuesday, the fee stated www.coinrise.ca just isn’t registered “to have interaction within the enterprise of buying and selling in securities or derivatives in Nova Scotia.”

It’s unlawful to solicit investments within the province with out first registering with the fee.

CoinRise claims on its web site to be one Canada’s quickest rising crypto buying and selling platform and says it gives wealth administration and funding banking providers. 

The fee stated at the very least one particular person from Nova Scotia has invested with CoinRise. It stated the investor’s account on the platform confirmed worthwhile features on their principal funding, nevertheless, when the investor tried to withdraw their funds, they have been capable of withdraw solely a small quantity. Subsequent withdrawal requests have been ignored.  

In December, Saskatchewan’s consumer affairs authority issued a warning about CoinRise, which claimed on the time to be primarily based in Regina.

After that alert was issued, CoinRise modified its location on its web site from Regina to Founders Sq. at 1701 Hollis St. in Halifax. Founders Sq. doesn’t record CoinRise as a tenant on its web site. 

On its web site, CoinRise claims to be Canada’s quickest rising crypto buying and selling platform, amongst different claims. (www.coinrise.ca)

Nobody from CoinRise initially responded to CBC’s emails and stay chat request for remark Tuesday.

Two of the e-mail addresses bounced again and could not be delivered. The cellphone quantity for CoinRise spokesperson Don Lehman, which had a Kitchener, Ont., space code, was disconnected.

“The web is usually a harmful place to buy investments however can be a priceless device for avoiding monetary loss. A easy on-line search can reveal alerts and warnings, complaints, critiques and different helpful info to assist traders make knowledgeable funding selections,” stated Stephanie Atkinson, director of enforcement for the Nova Scotia Securities Fee, within the information launch.

Nova Scotians can search for a person or company’s registration on the Nova Scotia Securities Fee web site. 


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