The procedure has several stages, each of which is equally important for making final decisions on contentious issues between brokers and traders. These stages are described in more detail to know more about their functions and requirements for both parties during the process.
Before initiating the complaint process with the International Crypto Authority, the client must contact the broker, outlining the situation and ways to resolve it. If the response is none or unsatisfactory, he/she can fill out a complaint within 45 days from the occurrence of the situation.
The Commission is obliged to make a decision on the complaint within a period of no more than 5 days in situations where the applicant has provided all the necessary information, including relevant documents and details of the disagreement in full.
The client’s complaint and all documents attached to it will be carefully verified and assessed. In case the Commission needs more data, it may request it. In this case, for further consideration, the client undertakes to provide it within 7 days.
Both parties in the dispute express their unconditional consent to the Commission’s decision. It is considered to have entered into force, and the applicant’s consent must be provided within 14 days, otherwise, the complaint will be closed.