MiCA enforcement begins as regulators warn unlicensed firms

The European Union's landmark crypto asset regulation has moved into an active enforcement phase, with national regulators beginning to police the market and major firms adjusting their strategies to comply. The Markets in Crypto-Assets (MiCA) framework's transition period concluded on July 1, requiring crypto service providers to hold a Crypto Asset Service Provider (CASP) license to operate legally within the bloc.

In one of the first public enforcement actions, Belgium’s Financial Services and Markets Authority (FSMA) has warned consumers against six entities operating without authorization. The regulator identified Aurum Foundation, Bank Bit, Bithf Pro, Dxago, Global Dynamic Trade, and ZeriaFunding as firms offering crypto services without the required CASP license. The FSMA added the companies to its warning list and urged the public to verify a provider's status on the official EU register before depositing funds, noting that crypto investments carry high volatility and are not covered by traditional investor compensation schemes.

Simultaneously, established companies are securing licenses to expand their services. Ripple announced it has received full CASP authorization...