Belgium’s FSMA Warns Against Six Unauthorized Crypto Firms | LeapRate
The Financial Services and Markets Authority (FSMA) has issued a public warning against six companies offering crypto-asset services in Belgium without the required authorization.
The regulator named Aurum Foundation, Bank Bit, Bithf Pro, Dxago, Global Dynamic Trade, and ZeriaFunding as firms operating illegally in the country. All six have now been added to the FSMA’s list of fraudulent crypto-asset service providers (CASPs), though the authority stressed that the list is not exhaustive and is updated regularly.
The warning comes under the European Union’s Markets in Crypto-Assets Regulation (MiCA), which took full effect at the end of 2024. Under MiCA, any firm offering crypto-asset services within the EU must hold authorization as a CASP from the competent supervisory authority in its home member state. New providers have needed this status since December 30, 2024, while existing firms were given a transitional period that expired on July 1, 2026.
The FSMA urged consumers to verify a company’s authorization status through the official CASP register before using its services. It also reminded the public of the inherent risks of crypto-assets, including sharp price volatility, limited market liquidity, and misleading promotion via social media. Unlike traditional financial products, crypto-assets carry no compensation scheme for losses.
The authority also warned against so-called “recovery rooms” that target previous scam victims with further fraudulent offers.
