By Government of Saskatchewan

Investor Alert: CoinRise Ltd.

Jan 3, 2022 | 10:04 AM

The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) is warning investors about the online trading platform CoinRise Ltd.

This platform offers Saskatchewan residents opportunities to invest and trade in cryptocurrency through its online website at www.coinrise.ca.

CoinRise Ltd. is not registered to trade or sell securities or derivatives in Saskatchewan. The platform is allegedly based in Regina, Saskatchewan and has been in contact with Canadian residents.

If you have invested with CoinRise Ltd., or anyone claiming to be acting on their behalf, contact the FCAA’s Securities Division at 306-787-5936.

FCAA strongly cautions investors and consumers to not send money to companies that are not registered in Saskatchewan, as they may not be legitimate businesses and you may lose your money.

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Tips to protect yourself:

• Always verify that the person or company is registered to sell or advise about securities or derivatives. To check registration, visit The Canadian Securities Administrations’ National Registration Search.
• Know exactly what you are investing in. Make sure you understand how the investment, product, or service works.
• Get a second opinion and seek professional advice about the investment.

In Saskatchewan, individuals or companies need to be registered with the FCAA to trade or sell securities or derivatives.

The registration provisions of The Securities Act, 1988 and accompanying regulations are intended to ensure that only honest and knowledgeable people are registered to sell securities and that their businesses are financially stable.

For more investor protection information visit https://fcaa/gov.sk.ca/consumers-investors-pension-plan-members/investors.