Belgium FSMA Warns on Six Unlicensed Crypto Firms Post-MiCA

Belgium's Financial Services and Markets Authority added six crypto-asset service platforms to its public list of fraudulent entities. The FSMA said the firms were operating without the required legal authorization under European Union rules.

The warning comes after the EU's transition period for existing crypto service providers ended on July 1, 2026. That deadline marked the full application of the Markets in Crypto-Assets regulation across the bloc. Firms that had been operating under national regimes before MiCA took effect were expected to obtain a license or cease operations by that date.

The six platforms were not named in the FSMA's statement. The regulator maintains a regularly updated list of companies it considers fraudulent or unauthorized. Consumers are advised to check that list before using any crypto service.

The FSMA said it continues to monitor the market for unlicensed activity. It urged anyone who has dealt with the flagged platforms to file a complaint. The regulator also warned that investors risk losing all their funds when using unlicensed firms, as they are not covered by any investor protection or compensation scheme.