Reason for this visit

With an increasing number of Australians accepting and investing in cryptocurrencies the cryptocurrency market in Australia is rapidly growing, and as a result, cryptocurrency trading platforms emerges continuously. The Australian government and financial institutions have shown a strong interest in the application of blockchain technology and digital assets, which has facilitated market development. Australia takes a cautious regulatory approach to the cryptocurrency market, with the Australian Securities and Investments Commission (ASIC) responsible for regulating digital asset service providers and cryptocurrency trading platforms. ASIC requires relevant companies to comply with anti-money laundering (AML) and know-your-customer (KYC) regulations to ensure market compliance. As digital assets gradually move towards the mainstream, Australia is poised to become one of the important centers for global digital asset trading and innovation. The government will continue to strengthen regulation of the cryptocurrency market, promote healthy market development, and protect investor rights. With the expanding application of blockchain technology across various industries, the Australian cryptocurrency market is expected to attract more investment opportunities and innovative developments. In an attempt to help investors gain a comprehensive understanding of Australian cryptocurrency exchanges, WikiBit survey team is determined to go the country for on-site visits to local companies.

On-site visit

In this issue, the survey team went to Australia to visit cryptocurrency exchange TSEx as planned according to its regulatory address that 2708 560 Lonsdale St Melbourne VIC 3000.

The investigators arrived at 560 Lonsdale Street in Melbourne of Victoria, Australia for a visit to the exchanges office on December 27, 2023, and located a modern high-rise commercial building. With a coveted location, the structure is easily accessible via public transports.

Upon access to the building for further investigation, the survey personnel discovered that it was actual an apartment building rather than a commercial building, and there wasnt any information pertinent to “TSEx” nor any sign of company operation. At the same time, no directory could be spotted in the lobby, except for the reception area of Melbourne Grand.

Through the on-site investigation, it‘s confirmed that the company doesn’t have a physical presence at the location.

Conclusion

The survey team went to Australia to visit cryptocurrency exchange TSEx as planned, but didn‘t find the company at its regulatory address. This signifies that the company doesn’t have a physical business office at the place. 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.