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Coinsquare executives resign in settlement with OSC over allegations of market manipulation

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To settle with Canada’s largest markets regulator, Coinsquare admitted to engaging in market manipulation by reporting inflated trading volumes of bitcoin

“Being an innovator in our capital markets is not a free pass to disregard Ontario securities law,” Jeff Kehoe, director of the enforcement branch at the OSC, said in a statement.

“These bans, together with other conditions, prohibit Diamond and Rostand from influencing the management of the Coinsquare platform for at least three years,” the OSC said in a statement late Tuesday after the settlement hearing. “These trades were created to inflate the trading volumes reported on the platform and had no economic substance,” according to the OSC.

Diamond and Rostand admitted that they “engaged in conduct that facilitated one or more of these breaches of Ontario securities law,” the OSC said in a statement late Tuesday.Article content continued

 

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