International Financial Licence Service (IFLS) is a non-commercial organization created for the purpose of regulating the quality of services provided by brokers and dealing centers, as well as the reliability of services provided by participants of the cryptocurrency market: cryptocurrencies, cryptocurrency exchange markets, cryptocurrency cloud mining services and companies, which attract investments through ICO.
The Center employs certification of financial organizations to achieve its statute purposes. It signifies that every company undergoes a detailed inspection and receives a certain type of certificate of compliance based upon the audit results. Issuing the certificates of a certain level is strictly regulated by the Center’s internal documents. The certified companies are guaranteed to comply with IFLS conditions for the provision of fair and high quality services to its clients.
The main scope of IFLS activities includes:
- Evaluation of financial organizations’ activities and their subsequent certification;
- Coordination of financial market participants’ activities;
- Minimizing risks for the financial market participants;
- Development of financial organizations evaluation systems with subsequent implication of the systems;
- Establishment of the compensation fund for the clients of the companies certified by IFLS.
IFLS is an independent organization that propagates the policy of openness for every participant of the international currency exchange market, including the cryptocurrency market.