As an independent organisation, Crypto Regulation Authority considers its main goal to be the resolution of controversial issues that arise among participants in the financial sector. Due to self-regulation, the organisation does not need to register as an EDR.

Membership status may be claimed by both organisations and individuals who are engaged in providing services in the financial sector. The company alone determines the principles and standards of interaction that are mandatory for all members.

The Crypto Regulation Authority’s fundamental aims are:

• Providing clients with a third-party recourse in the event of irresolvable disagreements between them and brokers.
• Helping resolve disputes as a third disinterested party.
• Providing full support to traders and brokers with membership status in the event of conflicts.

To ensure that all brokers with membership status have extensive experience in providing services in the financial markets, Crypto Regulation Authority offers it only to those companies that have been operating in this field for at least 3 years.

If a broker does not have such experience, but still expresses a desire to obtain membership status, it must undergo a verification procedure. This includes providing recommendations from an employee in a senior position in the company with experience in the financial markets for at least 3 years.

Membership levels in the company may differ according to several criteria, including the amount of compensation and the number of complaints handled.

Upon receipt of a complaint, the company may pay compensation to the claimant in the following cases:

• Breach of one of the points of the agreement between him/her and the broker.
• Breach of widely accepted standards of quality of services in the financial sector.
• Discrimination or unfairness towards the claimant.

Holders of membership status at all or specific levels may be required to submit certain reports. In such cases, notifications about this will be posted on the official website.

The appointment of members of the Dispute Resolution Committee is made only under the direction of the company. The duties of the Committee include:

• Assess the situation in which the complaint was filed according to key criteria, including the jurisdiction of the complaint and an analysis of existing rules and subsequently issued orders.
• Issue an order that is consistent with earlier decisions.
• Issue a directive for action implementing decisions in accordance with the order.

From the moment of passing the check, receiving the certificate and membership status, each broker undertakes to include in all subsequent contracts with clients a clause stating that the latter can file a complaint.

All financial resources are strictly designated for either maintaining the operational integrity of the company or finance the Compensation Fund. Distribution of these funds among members is not allowed.

The company undertakes to contribute a fixed sum to the Compensation Fund, which exists to offer protection to customers in the event of complaints. To manage these finances, the company must establish a dedicated account exclusively for the Compensation Fund. Alongside direct contributions, it also receives a fixed percentage of monthly membership fees from participants. A pre-set compensation amount may be established by the Fund, beyond which it holds no responsibility for covering additional losses.

Compensation amounts are subject to potential change. Any updates to them will be announced via the company’s official website. In situations where a client files a complaint and the involved member refuses to accept the ruling made by the Dispute Resolution Committee, the company retains the authority to use the Fund’s resources for compensation. It’s important to note that former members, even after termination of their membership, have no legal claim to any part of the Compensation Fund, which remains the company’s property. The predetermined amount may not be enough to fully compensate for the clients’ losses. In this case, it is distributed equally among all applicants.

The company may require members of all or certain levels to pay commissions. Information about such requirements will be posted on the official website.

The independence of the company is a permanent state of affairs. Members do not influence any processes taking place within it, including decision-making.

The Committee has full responsibility for the process of resolving conflict issues. As a result, it is:

• solely responsible for reviewing complaints and making decisions on them.
• Its obligation to report exclusively to the Board of Directors.

Upon receiving a complaint, the company first verifies whether the broker involved is officially affiliated with its network. If the broker is not a registered member, the complaint is dismissed immediately.

If the broker is a member, the complaint proceeds through a detailed examination in line with the company’s dispute resolution protocol. The entire process must be completed within 10 days. During this time, the member is required to submit comprehensive documentation and information related to the incident.

If the broker’s response is unsatisfactory, the applicant may forward the complaint to the company. This escalated case is then referred to the Dispute Resolution Committee for further investigation and a final decision.

An annual audit of each member is the full right of the company. During the audit, compliance with the rules is checked.

All members undertake to provide the company with access to their staff, property and other valuables, thereby fully cooperating with the audit.

In the event of unforeseen circumstances, a member must be able to continue operations, for which purpose it undertakes to develop a Recovery Plan. It must include the following points:

• data on reserve facilities;
• algorithm for recovery;
• third-party failure action plan;
• annual testing data;
• procedure for contacting the company;
• relevant third-party contacts;
• potential failure of connection details.