Key Highlights
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Belgian financial watchdog identifies six platforms lacking proper CASP credentials
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European MiCA regulations enforce mandatory licensing requirements for crypto operators
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Belgian authorities encourage platform verification through official registries
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Identified providers added to official fraudulent operator warning database
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Digital asset holders exposed to market volatility without standard compensation safeguards
Belgium’s financial regulatory authority has publicly identified six cryptocurrency service providers operating without proper authorization following the implementation of MiCA licensing requirements. The Financial Services and Markets Authority emphasized these entities are offering digital asset services without obtaining mandatory CASP credentials, issuing a clear advisory for Belgian residents to conduct thorough verification before engaging with any cryptocurrency platform.
Six Entities Identified for Unauthorized Operations
The Belgian supervisory body has specifically named Aurum Foundation, Bank Bit, Bithf Pro, Dxago, Global Dynamic Trade, and ZeriaFunding as entities conducting business within Belgian territory without proper regulatory clearance. These platforms have been incorporated into the authority’s official warning database for fraudulent CASP operations.
According to the regulatory body, MiCA legislation mandates that all cryptocurrency service providers obtain official authorization before conducting operations. Consequently, any organization wishing to provide digital asset services throughout Belgium or anywhere within the European Union must first acquire CASP designation. This regulatory framework encompasses activities including asset custody, exchange platforms, trading services, transfer facilities, advisory functions, and investment portfolio management.
The authority issued a stern recommendation discouraging public engagement with the identified entities. Citizens are strongly encouraged to cross-reference any potential provider against the authorized CASP registry maintained by regulators. The supervisory body acknowledged that its warning database cannot capture every unauthorized operator and continues to expand as new cases emerge.
Regulatory Framework Transitions Into Active Enforcement
The Markets in Crypto-Assets regulation became operational in late 2024, establishing unified cryptocurrency governance across European Union member states. This comprehensive framework outlined specific licensing pathways for both service providers and token issuers. Belgian authorities now implement this structure through national oversight mechanisms and public consumer advisories.
Cryptocurrency service providers entering the market after December 30, 2024, were required to secure CASP authorization immediately. Meanwhile, previously operating entities were granted a grace period that concluded on July 1, 2026. Following this date, any organization lacking proper authorization must cease all regulated cryptocurrency activities.
The Belgium advisory demonstrates the regulatory shift from framework development to active compliance enforcement. It illustrates how national authorities are actively identifying non-compliant operators beyond transitional deadlines. Cryptocurrency platforms must now demonstrate valid authorization credentials before soliciting Belgian consumers.
Financial Authority Emphasizes Market Dangers and Due Diligence
Belgium’s regulatory authority has also highlighted the substantial market dangers inherent in cryptocurrency investments. Digital asset valuations can experience dramatic fluctuations, while trading liquidity may evaporate during periods of market stress. Under such conditions, investors may find themselves unable to liquidate holdings at acceptable valuations or within desired timeframes.
The supervisory body also raised concerns regarding promotional activities conducted through social media channels. Certain marketing initiatives may present inaccurate, partial, or deliberately deceptive representations of cryptocurrency products. Belgium residents must therefore critically evaluate promotional content against verified regulatory documentation.
The authority further clarified that cryptocurrency losses fall outside traditional compensation schemes that protect certain conventional financial products. This reality intensifies individual responsibility for due diligence prior to account creation or capital deployment. For Belgian consumers, the regulatory message remains unambiguous: verify authorization credentials before entrusting funds to any cryptocurrency service provider.
