Canada's cryptocurrency exchange Coinsquare has announced reorganization of its leadership to continue the platform's growth in accordance with regulatory requirements.
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According to an official press release, the exchange has appointed Nicholas Thadaney and Wendy Rudd to its board of directors with Stacey Hoisak as new CEO, Lawrence Truong as CCO, and Eric Richmond as COO.
The exchange also said it had submitted a dealer membership application to the Investment Industry Regulatory Organization of Canada (IIROC) and an application to the Ontario Securities Commission (OSC).
"The proposed marketplace will provide automated trading systems bringing together institutional and retail orders from buyers and sellers of digital assets deemed securities under the Ontario Securities Act," Coinsquare wrote in the press release.
Coinsquare's new CEO says the trading platform has already taken new strict measures recommended by watchdog and now focused on creating a customer-centric safe place for Canadians to trade cryptocurrencies.
iHodl reported in July that Coinsquare's ex-CEO Cole Diamond and president Virgile Rostand resigned from their positions due to accusations of wash trading from the OSC.
Rostand and Diamond are also prohibited from acting as registrants and directors for three years. In addition to Rostand and Diamond, Coinsquare's ex-CCO Felix Mazer also left from the company and agreed to pay $50,000 fine.
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