Belgium’s Financial Services and Markets Authority (FSMA) has issued a public warning against six crypto-asset service providers that it says are operating in the country without the required authorization under the European Union’s Markets in Crypto-Assets (MiCA) regulation. The move comes just days after the July 1 deadline that ended the bloc’s transitional period for existing crypto firms, signaling that national regulators are now shifting from preparation to enforcement.
The six companies named by the FSMA are Aurum Foundation, Bank Bit, Bithf Pro, Dxago, Global Dynamic Trade, and ZeriaFunding. The regulator added them to its list of fraudulent crypto-asset service providers, strongly advising consumers not to respond to any offers from these entities and to verify a provider’s status through the official FSMA register before engaging with any platform.
Under MiCA, which entered into force at the end of 2024 and created a harmonized licensing framework across the EU, only authorized firms may offer services such as custody, trading platforms, crypto-to-fiat and crypto-to-crypto exchange, order execution, transfer services, advice, and portfolio management. Belgium’s transitional regime expired on July 1, meaning firms that were previously operating under temporary arrangements must now obtain full authorization or cease offering regulated services. The FSMA reminded consumers that crypto assets remain highly volatile, may suffer liquidity constraints, and are not covered by compensation schemes that would reimburse losses.
The warning marks an early, concrete step in the EU’s new supervisory phase. It also highlights the operational pressure facing crypto companies: those that miss licensing deadlines risk losing access to users, facing public naming, or being pushed out of regulated channels. The development coincides with adjustments by major players; for instance, Binance withdrew its MiCA application in Greece days before the cutoff and said it would seek authorization in another EU jurisdiction, acknowledging that some customers might experience temporary service disruptions.
For consumers, the FSMA’s action provides a clearer way to check which providers are authorized, while compliant firms gain stronger protection from unregistered competitors. The overall effect underscores that authorization status under MiCA is now a critical market signal, with unregistered firms facing higher risk of being publicly flagged and restricted.
