TL;DR:
- Belgium’s FSMA added six crypto-asset service platforms to its list of fraudulent entities for lacking legal authorization.
- The transition period for existing service providers in the European Union formally concluded this past July 1, 2026.
- The regulation requires any firm offering custody, exchange, or portfolio management to hold a license approved by its member state.
This Monday, Belgium’s regulatory body issued a stern warning after detecting which unlicensed crypto companies continue to operate illegally within the national territory. The supervisory measure was executed just days after the deadline for regularization under the European framework expired.
According to the official report from the Financial Services and Markets Authority (FSMA) presented this Monday, July 6, a detailed identification of the offending providers was carried out. The state institution formally incorporated the platforms Aurum Foundation, Bank Bit, Bithf Pro, Dxago, Global Dynamic Trade, and ZeriaFunding into its public registry of fraudulent entities.
Strict enforcement of MiCA regulations after the end of the transition period
An FSMA source suggests that national authorities across the European Union have initiated the enforcement phase of the licensing perimeter. This new stage of control arises following the conclusion of the transitional regime this past July 1, 2026.
From this temporal milestone forward, the law requires any crypto-asset service provider (CASP) to obtain explicit authorization from its home member state to maintain its commercial activities within the community bloc. Under Belgian regulatory guidance, only authorized firms possess the legal authority to provide essential services such as asset custody, the operation of trading platforms, the exchange between cryptocurrencies and fiat money, order execution, and portfolio management.
Crypto-assets are not covered by deposit guarantee funds or traditional compensation mechanisms within Belgian territory.
The current regulatory landscape has generated considerable operational tension for global corporations in the sector seeking to adapt to the supervisory standards of the 27 member countries. For instance, historical records of the ecosystem indicate that the Binance exchange withdrew its license application in Greece on June 24 to re-evaluate its regulatory strategy in another European jurisdiction ahead of the deadline.
Representatives of the FSMA categorically advised citizens to refrain from interacting with the platforms highlighted in their latest bulletin. Data from the entity reiterates that these digital assets carry marked price volatility and severe liquidity limitations in the secondary market.
