Reason for this visit

The United States is one of the largest cryptocurrency markets globally, with major digital assets such as Bitcoin and Ethereum gaining wide popularity, appealing to a large number of investors and innovators. The US has a broad base of retail and institutional investors, including individual investors, hedge funds, family offices, and more. In terms of regulation, the SEC has been closely monitoring digital assets, with its regulatory stance on digital assets fluctuating at different times but overall emphasizing the protection of investor interests. The CFTC is primarily responsible for regulating the futures and derivatives markets of digital assets and has approved products such as Bitcoin futures. Financial regulatory agencies in various states in the US are also taking measures, with some encouraging digital asset innovation and others adopting a cautious regulatory attitude. In the future, as institutional investor interest in digital assets grows, it is expected that an increasing number of institutional products and services will enter the market, thereby driving market growth. In an attempt to help investors to gain a more comprehensive understanding of current cryptocurrency exchanges in the United States, WikiBit survey team decides to go to the country for on-site visits to local companies.

On-site visit

In this issue, the survey team went to the US to visit cryptocurrency exchange SOCA as planned according to its regulatory address that 401 W Hampden Pl Ste 210, Englewood, Colorado, 80110.

The investigators came to 401 W Hampden Pl in Englewood of Colorado in the US for a visit to the exchange‘s office on November 23, 2023, and located “Hampden Place Medical Center”. There was an outdoor directory of the building, which didn’t display any information regarding SOCA.

Upon arrival at the building for further investigation, the survey personnel spotted a digital directory in the lobby, which displayed that the office of Bennet Daine T. M.D. is situated in suite 210, while discovering that only services related to doctor and healthcare were offered in the building. Then, the survey team accessed suite 210, but didnt see any information concerning SOCA on the door, except for “SurgOne P.C. Colon and Rectal Surgery”.

Through the on-site investigation, it is confirmed that the company doesnt have a presence at the location.

Conclusion

The survey team went to the US to visit cryptocurrency exchange SOCA, but didnt find the company at its regulatory address. This signifies that the company might just register at the place without a physical business office. Therefore, investors should be meticulous in choosing the exchange.

Disclaimer

The content is for informational purpose only, and shall not be taken as a final order for making a choice.