Dispute Resolution Process for Cases Involving Digital Currencies

/Dispute Resolution Process for Cases Involving Digital Currencies
Dispute Resolution Process for Cases Involving Digital Currencies2018-09-13T17:58:36+00:00

The Blockchain Dispute Resolution service was developed to supplement the existing self-regulatory efforts for the blockchain and cryptocurrency community. The new service provides clients who trade digital currencies on exchanges or with financial firms transacting on blockchain to receive a comprehensive and unbiased 3rd party opinion regarding their dispute or issue with their trading firm or exchange.

Complaints received through the Financial Commission concerning trading of digital currencies are reviewed by the Blockchain Expert Committee (BEC), following the existing dispute resolution process already in place today for Forex traders. The BEC will review eligible cases and  will issue a decision to the claimant outlining its opinion and recommendations on how to resolve the matter. In accordance with clause 16.3 of the Financial Commission Rules & Guidelines, complaints concerning the trading of digital currencies are not binding on any party of the dispute*.

To find out how to file a dispute, please click here.

 

 

*The dispute resolution process is intended to provide a neutral and unbiased process by which customers and traders can engage blockchain technology experts in reviewing their issue and receive a transparent, informative professional opinion regarding their matter. As such, all decisions issued in such cases will be issued for informational purposes only, without a decision for or against a particular party and will not be binding on any parties, including the complainant, the respondent or any members or employees of the Financial Commission or its Committees. The Financial Commission will employ all reasonable means to contact the cryptocurrency exchanges or financial firms indicated in submitted disputes, but do not guarantee that such attempts will be successful. The Financial Commission has an absolute and an unrestricted right to deny any complaint submitted to the Blockchain Expert Committee. Complaints issued against Initial Coin Offerings or token sales will not be accepted. Decisions issued by the BEC will be considered final and no appeals or amendments to the reports will be accepted.