Canada crypto exchange Coinsquare accused of wash trading by watchdog

posted 3 months ago
Canada-based crypto trading platform Coinsquare has been accused by the Ontario Securities Commission (OSC) of inflating its trading volumes in an illegal practice called wash trading.

The regulator alleges Coinsquare’s CEO Cole Diamond, founder Virgile Rostand and executive Felix Mazer knowingly manipulated markets via fake trading volumes and “authorized, permitted or acquiesced in this conduct” by the firm's staff, and that fake trades represented 90% of Coinsquare's reported volume between July 2018 and December 2019. A hearing to determine a settlement between Coinsquare and the regulator takes place later this week.
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