Compensation Fund
Compensation Fund
Crypto Service Authority is a team of professional consultants whose primary goal is to help in the case of management on fair conditions. The range of services includes dispute resolution, providing a faster and easier solution without involving industry regulators and the official system. The company is also ready to protect traders through a specially created Commission.
What is the Crypto Service Authority Compensation Fund?
The Compensation Fund is a special body created to protect the clients of our brokers, and it is used as one of the methods of insurance in the following cases:
• The broker refused to follow the decision made by the Commission.
• The broker is no longer a member of the Commission and doesn’t pay its obligations based on the awarded decision.
How is it financed?
Monthly, 10% of membership fees are accrued to the fund. All money is kept in a special secure bank account. The funds received can only be used to carry out the activities of the organization itself, all other purposes are prohibited.
Who is covered by the fund?
The Fund ensures clients only if the Commission makes a decision. Losses incurred by traders during independent trading are not covered by the Fund. In the case of debts with a broker, Fund’s principles do not apply to the entire client base.
What is the maximum coverage?
The maximum amount of coverage per client is €100,000 if the client is in the broker's database and an appropriate judgment has been issued up to the amount indicated above.
Compensation Payments
The Commission has 90 days to pay compensation to the applicant. The term is deducted from the moment the decision about the status changing of the participant-broker is made.
The Commission has the right to use all available measures to ensure the broker's payments to the applicant and verification of the applicant's personal information.
The Commission may divide the available running amount evenly among the applicants if the requested amount of pending cases by the participating broker exceeds the available funds.
