Crypto Oversight Authority is a self-governing organisation that has no jurisdictional restrictions. Its primary goal is to assist financial service providers and their clients in situations where they are unable to resolve disputes on their own. The company provides comprehensive support to clients dissatisfied with the actions of their brokers, but limits its assistance to cases where the latter have membership status. The role of the Crypto Oversight Authority in such cases is to intervene in the dispute as an independent and disinterested third party, whose position will help both the client and the broker to reassess the situation.

Crypto Oversight Authority has never, and will never, monitor brokers’ actions or verify their legal status. Its primary aim is to provide support in disputes between them and their clients, with the intent of helping achieve a fair final result for all parties involved. Before filing a complaint, it is the client’s responsibility to verify the broker’s membership status and its compliance with the applicable jurisdiction and regulatory requirements.

First and foremost, the company aims to create a network of competent and unbiased specialists who are committed to fulfilling their responsibilities conscientiously and professionally. By assembling them into a single team, the company entrusts them with reviewing conflict situations, taking into account all circumstances and existing rules, and developing fair decisions. The organisation’s second goal is to conduct this process more quickly, transparently, and neutrally than other regulatory bodies, ultimately guaranteeing both the speed and accuracy of the final resolution.

The rules state that brokers with member status are required to include a clause in each client contract specifying the Complaint Contact and the Internal Dispute Resolution (IDR) process. Upon receiving information that a complaint has been filed against it. The member is obliged to:

• • Report receipt of a complaint.
• • Offer compensation for losses, if possible.
• • If compensation is not provided, offer a detailed explanation of the situation.

The member should be aware that if the client does not agree with the response received, they have the right to forward their complaint to Crypto Oversight Authority.

If a broker is no longer a member of Crypto Oversight Authority or its status is listed as “under review”, clients cannot file a complaint against it with the company, as complaints are only accepted against brokers with an active membership status. In such situations, clients are advised to contact their country’s financial regulatory authorities.