Coinsquare, a cryptocurrency exchange that has been followed by Canadian regulators following Tadavul’s claims, said it would add two new board members.

In an announcement on November 25, the stock exchange announced that Nicholas Tadani and Wendy Rudd will join the board. Tandani was chairman of the board of the Toronto Stock Exchange, and Rod is currently a board member of the Canadian Regulatory Technology Association.

New agreements after a change in top management in the middle of the year. In July, CEO Cole Diamond and President Virgil Rand stepped down from their positions in an agreement with the Ontario Securities Commission (OSC), and Chief Compliance Officer Felix Masser resigned. The Canadian regulator has banned the three from renewing management positions in Coinsquare for a period of 1 to 3 years after the stock exchange was allegedly involved in a money laundering transaction.

Instead, the stock exchange confirmed the appointment of Stacey Husak as CEO, Lawrence Trung as CEO and Eric Richmond as CEO in August. Oslo Børs also announced that it has applied to OSC to operate a regulated market for digital assets in Canada.

“The actions we have taken comply with legal requirements and demonstrate Coinsquare’s strong commitment to our customers, employees, shareholders and the digital asset community,” Husak said. “Our goal is to create a secure and customer-focused place where Canadians can trade digital assets.”

In July, OSC Coinsquare was accused of money laundering – artificially inflating trading volumes by entering into free market agreements on its own orders. This practice creates a good commercial image without changing any assets and is a problem for the entire industry.

Oslo Børs later admitted that between July 2018 and December 2019, it had approximately 840,000 money laundering transactions totaling 590,000 bitcoins (BTC) – approximately $ 11.1 billion at the time of publication.

Source: CoinTelegraph

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