Belgian Regulator Flags Six Unauthorized Crypto Firms Post-MiCA
Belgium's FSMA added six crypto firms to its fraud warning list shortly after the EU's MiCA transitional period expired.
Belgium's Financial Services and Markets Authority (FSMA) issued a public consumer warning this week, identifying six crypto-asset service providers it has designated as unauthorized operators — a move that came just days after the European Union's Markets in Crypto-Assets (MiCA) regulation transitional period officially closed.
The regulator added all six firms to its existing list of fraudulent or non-compliant crypto-asset service providers (CASPs), signaling an accelerated enforcement posture now that the grace period afforded to crypto businesses operating under legacy rules has ended. With MiCA's full implementation now in effect across EU member states, firms that failed to secure proper licensing face heightened regulatory scrutiny and potential action from national authorities like the FSMA.
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The timing is significant. MiCA represents the most comprehensive crypto regulatory framework the EU has enacted to date, requiring service providers to register and comply with strict operational standards. The expiration of the transitional window removes the legal buffer that allowed some firms to continue operating while pursuing compliance — meaning those still unlicensed are now squarely in regulators' crosshairs across all 27 member states.
For Belgian consumers, the FSMA's warning is a practical alert to avoid engaging with the flagged platforms, which lack the authorization required to legally offer crypto services in the country. Regulators across the EU are expected to ramp up similar enforcement actions as MiCA compliance becomes a hard requirement rather than a phased aspiration.
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