Home Regulations Cryptocurrency Blacklist Published in Belgium – Warnings by FSMA ESMA IOSCO

Cryptocurrency Blacklist Published in Belgium – Warnings by FSMA ESMA IOSCO


The Financial Services and Markets Authority provides with a search function that can be used to check for their authorization.  The warnings and sanctions section, consists of the list of warnings by the FSMA, ESMA, and IOSCO.

Koen Geens, the Minister of Justice, insisted and implied that “Crypto companies should co-operate with authorities to help prevent cybercriminals and scammers.”

The search page can be used to check: “whether your offeror holds an authorization; or if there is a warning about an offeror.”

While the Belgian Tax Authority has levied 33% tax on their gains in crypto, regardless of cryptos not legalized in the country; The FSMA strongly advises its citizens to avoid responding to the financial services or recovery offers by the blacklisted companies.  Citizens are strictly warned against making money transfers to the accounts of these companies.  The list of the companies can be found in the official website.

Businesses who are trading and investing in crypto are expected to pay tax up to 50%

The fsma.be states “The list cannot be considered exhaustive.”

The authority requires investors and netizens to verify if the company with whom they might be willing to work do have the required authorization or registration.

FSMA, the financial watchdog of Belgium, has to state that the customers who have invested in cryptocurrency have continued to file their complaints with Financial Services and Markets Authority (FSMA).

FSMA have published in their website, “Please note: The absence of a warning about a company does not guarantee that the company in question holds a valid authorization.”  Periodic warnings are published in a timely manner.

Several online cryptocurrency firms have been spreading in this zone, unchecked.  With increasing complaints, the financial watchdog in compliance with the Belgian Financial Legislation have updated their warning list about several cryptocurrency companies that are operating without complying with the terms of the Financial legislation.

People hear nothing from companies after investing with them.  In order for people to be able to get the protections and securities provided by law, they need to be dealing with companies or platforms who are duly registered with FSMA.

The European Finance Ministers are scheduled to meet in the leading event where the benefits and risks of the cryptocurrency as an asset will be discussed.

The Euro Group meeting is being held in Vienna.  The group will be discussing about the regulation of the assets in the cryptocurrency space.

Several other European regulators have their own reservations and doubts about the cryptocurrency.  They are looking at it as a form of threat to the financial stability of the fiat currencies.

The Financial Conduct Authority (FCA) of UK have warned about the unregistered brokerage firms providing with cryptocurrency based derivatives in the country.  Similar trends are seen in several other countries too.  Trading and investing conferences are investigating cryptocurrency and its impact exhaustively.

The Financial Services and Markets Authority makes use of an annual questionnaire as an important tool in executing its permanent legal supervisory powers in the process of combating money laundering and terrorist funding.

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Sydney Ifergan

Sydney has 20+ years commercial experience and has spent the last 10 years working in the online marketing arena and was the CMO for a large FX brokerage.

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