Regulatory Disclosures

Asset disclosures &
compliance information

Detailed disclosures for each supported asset — covering MiCA whitepaper status, environmental characteristics, and operational policies. Published in accordance with our obligations under the EU regulatory framework.

01 Whitepapers & MiCA Status 02 Environmental Characteristics 03 Pricing Methodology 04 Post-Transaction Data 05 Exchange Limits
Section 01

Whitepapers & MiCA status

Under Regulation (EU) 2023/1114 (MiCA), certain crypto-asset issuers are required to publish a compliant whitepaper before making a public offer or seeking admission to trading within the EU. The disclosure obligations depend on asset classification. The information below reflects the current status for each asset supported by BitSpider.

Bitcoin Ethereum
Bitcoin & Ethereum
BTC · ETH
No issuer whitepaper required

BTC and ETH have no official MiCA whitepaper and are not subject to issuer whitepaper obligations. Both assets are fully decentralised with no identifiable issuer — the entities that originally created them have no ongoing legal control over the networks.

Under MiCA, whitepaper and disclosure obligations for such assets may fall on the Crypto-Asset Service Provider (CASP) listing them within the EU, rather than on any issuer. BitSpider, as a CASP, monitors the evolving guidance from ESMA and competent authorities on applicable CASP-level obligations for these assets.

Do your own research: Bitcoin Whitepaper  ·  Ethereum Whitepaper
POL TRON
Polygon & TRON
POL · TRX
No MiCA-specific whitepaper published

No publicly known MiCA-specific whitepaper has been published for POL or TRX. A MiCA-compliant whitepaper would only be formally required if there is a public offer in the EU or admission to trading under MiCA rules — obligations that fall on the issuer rather than on BitSpider as a CASP.

Both projects maintain their own technical and project documentation, which may be relevant context for clients. BitSpider will update this section as regulatory guidance evolves.

Do your own research: Polygon (POL) Documentation  ·  TRON Whitepaper
USDC
USD Coin
USDC — Issued by Circle Internet Financial
MiCA compliance documentation required (EMT)

USDC is widely understood to qualify as an E-Money Token (EMT) under MiCA. EMTs are tokens that purport to maintain a stable value by referencing the value of one official currency. As a USD-pegged stablecoin, USDC falls within this classification.

Under MiCA, EMT issuers must obtain authorisation as an e-money institution and publish a MiCA-compliant whitepaper prior to any offer to the public or admission to trading in the EU. Compliance documentation is therefore required for EU-facing issuance. Circle Internet Financial has been engaged in regulatory processes across jurisdictions and clients should review Circle's most current regulatory disclosures and whitepaper filings.

BitSpider does not issue USDC. Our role as a CASP is limited to facilitating exchange. We monitor ongoing ESMA guidance and EMT-specific CASP obligations closely.

Do your own research: Circle USDC Documentation  ·  USDC MiCA Whitepaper  ·  MiCA Regulation (EU) 2023/1114
Section 02

Environmental characteristics

MiCA requires CASPs to disclose the environmental and climate-related impact of the crypto-assets they support. The information below summarises the consensus mechanism and known energy profile for each supported asset.

Bitcoin
Bitcoin
BTC
⚡ Proof of Work

Bitcoin uses Proof of Work (PoW) — the original blockchain consensus mechanism. Miners compete to solve cryptographic puzzles using specialised ASIC hardware. The miner who solves the puzzle first earns the block reward and transaction fees.

PoW is intentionally energy-intensive by design: the computational cost is what makes the network secure and resistant to attack. Bitcoin's annualised energy consumption is estimated at 100–150 TWh per year, comparable to medium-sized nations. The energy mix increasingly includes renewables and stranded energy sources, though the proportion varies significantly by region.

No planned transition to a lower-energy consensus mechanism exists on Bitcoin's roadmap.

ConsensusProof of Work (SHA-256)
Est. energy use~100–150 TWh / year
HardwareASIC miners
Ethereum
Ethereum
ETH
⚡ Previously PoW ✓ Now Proof of Stake

Ethereum originally launched on Proof of Work before completing "The Merge" in September 2022 — a full transition to Proof of Stake (PoS). This reduced Ethereum's energy consumption by an estimated 99.95%.

Under PoS, validators are chosen to propose and attest blocks in proportion to the amount of ETH they have staked (minimum 32 ETH). There is no competitive mining; security is provided by the economic stake at risk of slashing. The network now consumes approximately ~0.01 TWh per year — roughly equivalent to a small town.

ConsensusProof of Stake (since Sept 2022)
Energy reduction~99.95% vs. PoW
Est. energy use~0.01 TWh / year
POL
Polygon
POL (formerly MATIC)
✓ Proof of Stake

Polygon (now POL) uses a Delegated Proof of Stake (DPoS) mechanism. A set of validators stake POL tokens to participate in block production; token holders can delegate their stake to validators. The network does not use energy-intensive mining.

Polygon has committed to a carbon-neutral and green blockchain roadmap, and has published sustainability reports. Energy usage is a small fraction of PoW chains, comparable to Ethereum post-Merge. The POL token is the native asset of the Polygon PoS chain and is used for gas fees and staking.

ConsensusDelegated Proof of Stake
Energy profileLow — no mining hardware
SustainabilityCarbon-neutral commitment
TRX
TRON
TRX
✓ Delegated Proof of Stake

TRON uses Delegated Proof of Stake (DPoS), where 27 elected "Super Representatives" (SRs) produce blocks in rotation. TRX holders vote for SRs using staked TRX. The system is energy-efficient compared to PoW as there is no competitive computation.

TRON's energy consumption is minimal relative to PoW networks. The network uses a resource model (Energy and Bandwidth) that abstracts transaction costs — users freeze TRX to obtain resources rather than pay gas in a traditional sense. TRX's environmental footprint is considered low by industry standards.

ConsensusDelegated Proof of Stake
Block producers27 Super Representatives
Energy profileLow — no mining hardware
USDC
USD Coin
USDC — Multi-chain stablecoin
✓ Underlying chain dependent

USDC is a stablecoin, not a standalone blockchain. Its environmental characteristics are determined entirely by the underlying blockchain on which it is issued and transacted. Circle issues USDC natively on multiple networks including Ethereum, Solana, Avalanche, and others.

BitSpider supports USDC transactions on the Ethereum network, which operates on Proof of Stake following The Merge (September 2022). The environmental footprint of USDC transactions via BitSpider is therefore consistent with Ethereum PoS — very low energy consumption, with no mining involved.

Clients transacting USDC on other networks should refer to the environmental profile of the relevant underlying chain. There is no independent energy footprint attributable to USDC itself — it inherits the characteristics of whatever chain it runs on.

Token typeStablecoin (ERC-20 on ETH)
Underlying chainEthereum (PoS)
Energy profileLow (inherits ETH PoS)
Section 03

Pricing methodology

How BitSpider constructs and applies exchange rates to client transactions.

Coming Soon

Pricing methodology disclosure

Detailed wording for this section is currently being prepared and will be published shortly. This disclosure will cover how BitSpider sources reference rates, constructs client pricing, handles FX spread, and ensures pre-execution rate transparency in accordance with MiCA and applicable best-execution standards.

Section 04

Post-transaction data

Information provided to clients following the execution of a transaction.

Coming Soon

Post-transaction data disclosure

Detailed wording for this section is currently being prepared and will be published shortly. This disclosure will cover the transaction confirmations, statements, and data records provided to clients after each transaction is executed — including format, timing, and content in line with MiCA Article 81 and applicable record-keeping obligations.

Section 05

Exchange limits

Minimum and maximum transaction sizes, daily and periodic limits applicable to BitSpider's on-ramp and off-ramp services.

Coming Soon

Exchange limits disclosure

Detailed wording for this section is currently being prepared and will be published shortly. This disclosure will cover minimum and maximum transaction sizes for on-ramp and off-ramp services, applicable daily and periodic limits, and any differentiated limits by client tier or account status. Limits are agreed during onboarding and set out in client agreements.