Image credit: Unsplash
Belgium’s Financial Services and Markets Authority (FSMA) has warned consumers against six crypto-asset service providers it says are offering services in the country without authorization.
The warning came days after the EU’s MiCA transition period ended, leaving unauthorized crypto firms unable to keep offering regulated services in the bloc.
FSMA Names 6 Unauthorized Providers
The FSMA named Aurum Foundation, Bank Bit, Bithf Pro, Dxago, Global Dynamic Trade and ZeriaFunding in its July 6 warning. The regulator said the companies were offering crypto-asset services in Belgium without the required authorization.
The FSMA also added the entities to its list of fraudulent crypto-asset service providers. The regulator said the list is not exhaustive and will be updated regularly. It advised consumers not to accept crypto offers from the named companies and to check whether a provider is authorized before using its services.
July 1 Ended MiCA Transition
MiCA introduced a common EU authorization regime for crypto-asset service providers. New providers have needed CASP status since December 30, 2024. Existing providers that were already active under national rules had a transition period that expired on July 1, 2026.
After that deadline, firms offering crypto services in the EU need authorization from their home member state. Without it, they must stop providing regulated services in Europe. The FSMA had already warned on June 25 that providers without MiCA authorization would have to cease activity once the transition period ended.
Belgium Had no FSMA-Approved CASPs
The Belgian regulator said no crypto-asset service provider held an authorization granted by the FSMA as of its June 25 transition notice. That does not mean no authorized firm can operate in Belgium.
A provider licensed in another EU member state can use MiCA passporting to serve clients across the bloc, provided it appears in the EU register and meets the required conditions. The FSMA told consumers to consult ESMA’s register of authorized crypto-asset service providers before dealing with any platform.
Post-Deadline Enforcement Begins in Belgium
The warning shows how national regulators are moving from transition-period guidance to post-deadline enforcement.
For Belgian users, the immediate risk is dealing with platforms that do not fall under MiCA’s investor protection, conduct and prudential rules. For crypto firms, the post-transition rule is now clear.
The transition window has closed, and Belgium expects providers serving local users to hold proper CASP authorization or leave the market.
