Woofun AI reports that Belgium’s Financial Services and Markets Authority (FSMA) has designated six entities as fraudulent crypto-asset service providers (CASPs) operating without authorization. This regulatory action targets Aurum Foundation, Bank Bit, Bithf Pro, Dxago, Global Dynamic Trade, and ZeriaFunding, marking an immediate enforcement step following the expiration of the European Union’s Markets in Crypto-Assets (MiCA) transitional period on July 1.

On Monday, the Brussels-based regulator published a warning against these firms, adding them to its official list of fraudulent CASPs. Consumers are strongly advised to consult the official CASP register before engaging with any provider, as the FSMA highlighted inherent risks including market volatility and liquidity limitations.

Notably, assets held with unauthorized entities are not covered by any compensation scheme for potential losses. The regulator was contacted for further clarification but did not respond prior to publication.

Woofun AI data shows that structurally, the MiCA framework, which entered into force at the end of 2024, established a harmonized EU regime for issuers and service providers. Under Belgian guidance, only authorized CASPs may legally offer specific services, including custody, trading platforms, crypto-to-fiat exchange, crypto-to-crypto exchange, order execution, transfer services, advice, and portfolio management.

The deeper driver is the strict delineation of permissible activities under the new regulatory perimeter.

The July 1 deadline served as a critical juncture for the industry, ending the transitional regime that allowed existing providers to operate while seeking authorization.

A more critical variable is the strategic maneuvering by major players; on June 24, Binance withdrew its MiCA application in Greece just days before the cutoff. The exchange stated it was "not leaving Europe" but acknowledged that some users could be affected as it navigated applicable requirements in a different jurisdiction.

This enforcement wave signals intensified compliance pressure across the EU jurisdiction. As national regulators begin to apply the full scope of MiCA, unauthorized operators face immediate exclusion, while legitimate firms must adapt to the new licensing standards. Users remain vulnerable to fraud unless they verify provider status through official channels.