REGINA — Investors and Saskatchewan residents are being warned to avoid investing in a cryptocurrency company allegedly based in Regina due to security concerns.
CoinRise Ltd., an online trading platform, has been flagged by the Financial and Consumer Affairs Authority of Saskatchewan as it is not registered to trade or sell securities or derivatives in the province.
The FCAA flags unregistered individuals or companies as they put residents at a higher risk of losing invested money to illegitimate businesses.
The FCAA is advising anyone who has invested in CoinRise Ltd. or interacted with anyone claiming to be acting on their behalf to contact the Securities Division at 1-306-787-5936.
Residents are always advised to verify the person or company before investing using the Canadian Securities Administration’s online National Registration Search.