The Crypto Finance Commission is functioning autonomously, focusing on mediating disputes within the financial industry. Operating as a self-governing entity, it remains free from regulatory oversight and is not mandated to be included in an External Dispute Resolution (EDR) body.

Both individuals and organisations engaged in financial services are eligible for membership. All members must comply with the company’s fundamental principles and operational guidelines.

The Crypto Finance Commission is dedicated to the following goals:

• Providing an alternative dispute resolution service when direct negotiations fail to yield a consensus.
• Serving as an impartial mediator to ensure fair and just outcomes for all parties involved.
• Supporting broker-members and their customers in resolving conflicts efficiently and professionally.

To ensure that our membership list consists only of reliable brokers with high qualifications and skills in the financial field, we have set a restriction: only service providers with at least 3 years of experience in this field can apply for membership.

If a broker does not have such experience in the financial industry, but still intends to apply for membership, it must provide recommendations from an employee of a financial company with a managerial position. In this case, that company must have been on the market for at least 3 years.

Membership levels of brokers may vary, and each of them has its own characteristics: the size of the commission, the number of open complaints, etc.

If a requirement to provide a certain report has been posted on the Crypto Finance Commission’s website, it applies to all members, regardless of level.

The members of the Committee may be appointed exclusively by the company. In doing so, it assumes the following obligations:

• A comprehensive assessment of complaints, taking into account all the nuances implied by the rules for conducting this procedure, with subsequent issuance of verdicts on them.
• Delivery of resolutions on the implementation of the previous decisions.
• Provision of instructions in accordance with these verdicts and decisions.

All of the above create a strictly defined scope of responsibilities for the Committee. The only party that can make changes to it is the Board of Directors.

Under certain conditions, a complaint against a member will be referred to the Committee. Such conditions are:

• Breach of the terms of the agreement between the member and the complainant.
• Failure to maintain a standard level of quality for the provision of financial services.
• Discrimination or indignity towards the client.

Members cannot exert any influence on the complaint decision-making process or its outcome, as the company is completely independent.

All decisions on disputes are made only by the Committee. In doing so, it:

• Manages the process completely independently.
• Receives direction only from the Board of Directors.

The Board of Directors has sole control over all activities of the company, including the decision-making on disputes by the Committee.

Representatives of the company may under no circumstances apply for membership in the Committee or the Board of Directors, as these bodies are called upon to exercise impartial control.

The first thing the company does when it receives a complaint about a broker is to check whether it is a member. If this status is confirmed, the complaint is accepted for consideration. If not, it is automatically rejected.

The dispute resolution rules state that the broker must provide a full report concerning all the circumstances that led to the creation of a conflict situation within 10 days, since its clarification, according to the company’s requirements, should not exceed this period.

After receiving a response from a member, if the complainant finds it unfair, he/she may refer their complaint to the Dispute Resolution Committee.

Obtaining membership status after passing the verification procedure leads to the broker’s obligation to include in all contracts with clients a clause stating that, if necessary, the latter can file a complaint against it.

The resources allocated to the Compensation Fund are strictly reserved for either depositing in the Fund itself or facilitating the company’s operational needs. Under no circumstances may these funds be distributed among members.

The company is obligated to contribute a predetermined sum to the Compensation Fund, ensuring a financial safeguard for clients in case of disagreements. Furthermore, a separately intended account must be maintained exclusively for this Fund. In addition to the initial sum, the Fund receives continuous financial support through monthly contributions from members, amounting to a fixed percentage rate.

While the Fund may establish a maximum compensation amount, it is not required to cover damages exceeding this threshold. The specified compensation limit is subject to recurrent reassessment, and any modifications will be transparently communicated via the company’s website.

The authority to disburse compensation from the Fund rests solely with the company. If a dispute arises and the involved member refuses to adhere to the Committee’s decision, the Fund may be used to compensate affected clients. However, once a member’s affiliation with the company is terminated, it has no right to rely on finances from the Compensation Fund, which is owned by the company. In situations where the full amount of compensation is not enough to fully cover all losses of the claimants, the Fund will distribute the funds in equal shares among them.

The ability to impose certain obligations on its members in terms of paying additional commissions is an inherent right of the company. This is especially true for those who are at certain levels. Announcements of such obligations will be posted on the company’s website.

The company reserves the right to monitor compliance by members with its rules. For this purpose, it may conduct annual audits.

Members undertake to cooperate fully in these audits, providing company representatives with access to their premises, equipment and other assets upon request.

One of the mandatory conditions of membership is the existence of a recovery plan, which is designed to ensure continued operation and maintenance of the previous level of service quality in the event of unforeseen circumstances. The existence of such a plan, in addition, contributes to the increase in the broker’s reputation.

Among the points contained in it, the following are mandatory:

• information on additional premises;
• step-by-step description of the action plan;
• list of measures taken in the event of problems with a third party;
• description of the algorithm for conducting annual audits;
• ways to reach the Company;
• contacts of additional suppliers;
• algorithm for establishing a backup connection.