Belgium’s Financial Services and Markets Authority (FSMA) has warned consumers against six crypto-asset service providers (CASPs) that it said are operating in the country without the authorization required under the European Union’s Markets in Crypto-Assets (MiCA) regulation.
The warning, published on Monday, comes just days after the EU’s MiCA transitional period ended on July 1, 2026, making it one of the first visible enforcement actions following the bloc’s licensing deadline for existing crypto service providers.
The FSMA identified the following entities as operating without authorization:
- Aurum Foundation (aurum.foundation)
- Bank Bit (bank-bit.com)
- Bithf Pro (bitfpro.org)
- Dxago (dxago.com)
- Global Dynamic Trade (globaldynamictrade.org)
- ZeriaFunding (zeriafunding.com)
The regulator said it has added all six companies to its list of fraudulent crypto-asset service providers and stressed that the list may be updated as additional unauthorized operators are identified.
FSMA strongly advised consumers not to respond to offers from the named companies and recommended verifying whether a crypto service provider appears in the regulator’s official CASP register before depositing funds or using any crypto-related services.
MiCA Transition Ends as EU Regulators Begin Enforcement
The warning reflects the next phase of the European Union’s implementation of MiCA, the bloc’s comprehensive regulatory framework for crypto assets and crypto-asset service providers.
MiCA entered into force at the end of 2024, introducing a harmonized licensing regime across the European Union. Under the framework, companies offering crypto services, including custody, trading platforms, crypto-to-fiat exchange, crypto-to-crypto exchange, order execution, transfer services, investment advice and portfolio management, must obtain authorization from the competent regulator in their home member state before providing services within the EU.
Existing providers were allowed to continue operating under transitional arrangements until July 1, 2026. With that deadline now expired, regulators across Europe are beginning to distinguish between firms that have secured authorization and those continuing to operate without approval.
The FSMA reiterated that crypto assets remain subject to significant risks, including sharp price volatility and limited market liquidity. It also reminded consumers that crypto assets are not covered by a compensation scheme that would reimburse losses if a provider fails.
Regulatory Pressure Builds Across Europe’s Crypto Industry
Belgium’s warning comes amid broader regulatory adjustments across the European crypto sector as firms complete their MiCA compliance strategies.
In late June, cryptocurrency exchange Binance withdrew its MiCA authorization application in Greece and said it planned to pursue authorization in another European Union jurisdiction ahead of the July 1 deadline, highlighting the industry’s efforts to align with the new regulatory framework.
The FSMA’s latest action signals that national regulators are now moving from the transition period into active supervision and enforcement under MiCA. As licensing requirements become fully applicable, the regulator has encouraged consumers to verify the authorization status of crypto service providers before engaging with any platform offering digital asset services in Belgium.
Recently, Ripple has secured full authorization as a Crypto-Asset Service Provider (CASP) under the EU’s MiCA framework, strengthening its regulated presence across Europe. The approval enables Ripple to expand compliant digital asset services throughout the European Economic Area under a harmonized regulatory regime.
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