Coinsquare Changes Board of Directors Following Scandal With …

Coinsquare Changes Board of Directors Following Overestimated Trading Scandal

Canadian stock exchange cryptocurrencies Coinsquare announced about changes on the board of directors. Former executives of the company went to resign after accusations by local regulators.

According to the notice, to advice of Coinsquare’s directors were joined by Nicholas Tadani and Wendy Rudd, both from which have experience in the areas of securities regulation in Canada, investment dealers and regulated markets.

In July, the Securities Commission Ontario filed charges against Coinsquare executives, including CEO Cole Diamond, founder Virgil Rostand and managing director Felix Mather, in overstating trading volumes and putting pressure on on informant. Subsequently everything three were fined and left company with ban have been in the market for several years.

Coinsquare Changes Board of Directors Following Scandal With ...

“We have taken these measures in strict compliance with regulatory requirements and with the aim of demonstrating an increased commitment to customers, employees, shareholders and the digital community. assets. We strive to create focused on clients a safe place where Canadians can trade digital assets “- writes Coinsquare.

According to the regulator, for fake transactions had to 90% trade Coinsquare activities from July 2018 to December 2019. From 17 July 2018 by 4 december 2019 of the year 840,000 such transactions were carried out with a total volume of 590 000 BTC or over $ 11 billion at the current rate.