Frequently Asked Questions
Clients FAQ
Crypto Service Authority is an independent organization whose main goal is to fully assist in the resolution of disputes by an alternative non-judicial method. The company's actions apply to consumers/traders who have complaints against one of the financial service providers (members of the company).
Crypto Service Authority has set itself the task of providing a new and actionable approach to solving any problems related to trading in the cryptocurrency market between participants.
Crypto Service Authority was not created for the purpose of regulating brokers and their activities and does not intend to do so in the future. The organization acts as an independent body to resolve disputes between traders and brokers using effective and transparent methods to obtain a peaceful result.
We recommend that traders before filing a complaint, check the presence of their broker in our database, as well as its status in the financial regulatory authorities of their country.
The creation of a fair and neutral Committee, which will not depend on any of the parties to the dispute, is the main objective of the company. Such a Committee is able to facilitate the process of consideration of complaints and take decisions on them. Another advantage of the Committee is the fast procedure, unlike judicial or other industry regulators.
Each member is required to have a specific Complaints Contact and Dispute Resolution (IDR) procedure in accordance with Crypto Service Authority rules.
The broker, in response to a complaint, should do the following:
- Confirm customer complaint.
- If possible, offer compensation to the client.
- If the complaint is rejected, state the reason for such a broker’s decision.
The company only accepts complaints from clients against those brokers who have a good reputation and are listed in our database of brokers at the time the dispute is filed.
Assistance cannot be provided if the broker is no longer a member of the Crypto Service Authority or its status is under “review”. In this case, you should seek help in resolving the dispute with the appropriate regulatory body in your country.
Members FAQ
The Crypto Service Authority will help you manage the possible risks associated with trading markets more effectively and prove to your clients that you are an honest and reliable financial services provider. We will help you meet the needs of your clients and demonstrate the highest standards of service in your field. Each of your clients will have access to an honest, experienced, independent and professional staff capable of resolving any dispute as quickly and efficiently as possible.
The Crypto Service Authority’s objective is to create a neutral and independent Committee, which will be able to make the dispute resolution procedure more efficient and faster, in contrast to judicial review and the involvement of other industry regulators of the countries.
On the official website of the Company, you will find a special online form that you need to fill out in order to apply for membership. If you would like to receive a copy of your application by email, please contact us at this address: contact@cryptoservauthority.com.
After receiving your application for membership, we have 21 business days to review it. You will be informed of the decision by our Board of Directors. Each new member receives their own individual number. Once your membership application has been approved, you will receive a welcome pack with all the necessary information and a membership certificate.
The Crypto Service Authority requires each member to have a Complaints Contact and an Internal Dispute Resolution (IDR) procedure.
The broker-member must include the following information in its response to a complaint from a client:
- Affirmation of the receiving complaint.
- Providing a compensation plan if applicable.
- Explanations in case of rejection of the complaint by the broker.
