Latvijas Banka Issues License to Bleap SIA for Crypto-Asset Services

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Supervisory news

On June 25, the Supervisory Committee of Latvijas Banka issued a license to Bleap SIA for the activity of a crypto-asset service provider. The license allows the company to perform the exchange of crypto-assets for funds and the exchange of crypto-assets for other crypto-assets.

Bleap SIA received the license in accordance with the requirements of the European Union (EU) Regulation on Markets in Crypto-Assets and can provide its services throughout the EU in accordance with the cross-border activity notification mechanism.

Since the EU's unified legal framework for the crypto-asset sector entered into force, nine companies have received authorization from Latvijas Banka to provide crypto-asset services. The list of these companies is available on the Latvijas Banka website, while the EU-level list of crypto-asset service providers is maintained by the European Securities and Markets Authority.

Companies wishing to obtain a license from Latvijas Banka are invited to use the licensing guides prepared by Latvijas Banka, which contain detailed information about the licensing process and requirements, including what documents need to be prepared and submitted to Latvijas Banka, the application review deadlines, and other information.

To ensure a smooth licensing process, Latvijas Banka encourages companies to use pre-licensing consultations. In these consultations, Latvijas Banka experts advise companies on the applicable regulations and initially assess the company's compliance with regulatory requirements. Cooperation during the pre-licensing phase helps companies prepare high-quality applications for obtaining a license, and the license acquisition process is efficient. Applications for consultations can be made on the Latvijas Banka website.