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[Alert]: Saskatchewan’s consumer affairs authority issues warning about crypto platform CoinRise

CBC | Dec 27, 2021

Coinrise not registered to sell securities - [Alert]: Saskatchewan's consumer affairs authority issues warning about crypto platform CoinRiseCoinRise Ltd. is not registered to trade or sell securities or derivatives in Saskatchewan, authority says

The Financial and Consumer Affairs Authority of Saskatchewan has issued a warning about a cryptocurrency platform, which claims to be based out of Regina.

The online trading platform CoinRise Ltd. is not registered to trade or sell securities or derivatives in Saskatchewan, according to the warning issued on Dec. 22.

CoinRise Ltd. did not respond to CBC News requests for comment about the financial consumer affairs authority warning.

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CoinRise Ltd.'s website states it helps people "take control of your investments and take your investment skills and abilities to the next level" through cryptocurrency trading and investment opportunities

The company's website said its employees had years of experience working with various partners in "all aspects of dealing with finance."

The company's website listed an address on Hamilton Street in Regina, though an auto-generated response to an email requesting comment for this article listed a different address in the capital along Quance Street E.

The consumer affairs authority warned investors and consumers not to send money to companies not registered in Saskatchewan as they may not be legitimate and their money could be lost.

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Anyone who invested with, or was contacted by anyone claiming to act on CoinRise Ltd.'s behalf was asked to call the financial and consumer affairs authority's securities division at 306-787-5936.

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