Some services available through the Bleap app are regulated under the European Union's Markets in Crypto-Assets Regulation (MiCA), while others are not.
Bleap Wallet
Bleap is built around an unhosted wallet.
This means that you retain control of your crypto-assets and private keys. Bleap cannot unilaterally access, transfer, or control the assets held in your wallet.
The wallet itself is not a MiCA-regulated service and does not benefit from MiCA investor protection safeguards.
However, certain services that are accessible through the wallet may be regulated under MiCA.
MiCA-Regulated Services
Certain services available through the Bleap app are regulated under MiCA.
These include services where Bleap provides regulated crypto-asset services, such as:
Buying crypto-assets with EUR or other supported fiat currencies (on-ramp)
Selling crypto-assets for EUR or other supported fiat currencies (off-ramp)
Card-related services connected to spending supported assets
Other services identified within the app as MiCA-regulated
For these services, the protections and requirements applicable under MiCA apply.
Non-MiCA Services
Some features available through the Bleap app are not regulated under MiCA.
Wallet
The unhosted wallet functionality itself is not regulated under MiCA.
Trading
Trading enables users to interact with crypto-assets through third-party protocols and liquidity providers.
Vaults
Vaults enable users to allocate assets to third-party yield-generating protocols.
These services do not benefit from MiCA investor protection safeguards.
What Does This Mean For Me?
When using products that are not regulated under MiCA:
MiCA investor protection safeguards do not apply.
You may lose some or all of your assets.
Returns, where applicable, are not guaranteed.
The service may be subject to market, protocol, liquidity, technology and counterparty risks.
Bleap clearly identifies whether a product or service is regulated under MiCA before you use it.
How Can I Identify Regulated and Unregulated Services?
Bleap identifies services that are not regulated under MiCA before you use them.
Where a service is not regulated under MiCA, we will clearly indicate that MiCA investor protection safeguards do not apply.
Information about the regulatory status of a service is provided throughout the Bleap app and related communications so that users can understand which protections apply to each product.