FSMA Flags Six Unauthorized Crypto Trading Platforms Operating Without MiCA License

The Financial Services and Markets Authority (FSMA) of Belgium has issued a public warning regarding multiple unauthorized entities offering crypto-asset services to consumers without the required regulatory approval. Following the implementation of the European Union's Markets in Crypto-Assets (MiCA) regulation, companies offering crypto-asset services within the EU must obtain a valid license as a Crypto-Asset Service Provider (CASP). The FSMA identified several platforms actively targeting consumers in Belgium without holding this mandatory status and has added them to its list of fraudulent and unauthorized CASPs. The FSMA strongly advises the public not to respond to offers from the following entities: - Aurum Foundation (aurum.foundation) - Bank Bit (bank-bit.com) - Bithf Pro (bitfpro.org) - Dxago (dxago.com) - Global Dynamic Trade (globaldynamictrade.org) - ZeriaFunding (zeriafunding.com) The regulator notes that this list is not exhaustive and is updated regularly. Under EU rules, the CASP authorization is issued by the supervisory authority of the Member State where the service provider is established. While the framework has been mandatory for new entrants since late 2024, transitional provisions for existing providers have concluded, making compliance strictly mandatory. The FSMA highlights significant risks tied to unregulated crypto offerings, including extreme price volatility, market liquidity constraints preventing timely sales, misleading promotions across social media, and the absence of statutory compensation schemes in the event of financial loss. Investors who have interacted with or sent funds to these unauthorized platforms are urged to take immediate protective measures: cease all transactions, cut off all communications with the operators, leave associated trading groups, notify their financial institutions immediately, and file reports with the FSMA and local law enforcement. Victims are also warned against "recovery room" schemes, where fraudulent third parties demand upfront fees under the false promise of retrieving lost funds.