Belgium Crypto License (FSMA VASP, MiCA)

Crypto Regulation in Belgium

For a crypto business, Belgium now operates on two overlapping levels. The first is national: since May 2022, every virtual asset service provider (VASP) must be registered with the FSMA — crypto/fiat exchange, crypto/crypto exchange, custody, or running a trading platform. The second is European: the MiCA regulation rolled out its full CASP regime in December 2024 and is progressively absorbing the national registration.

The practical question is therefore no longer "do we need to register?" but "how do we bridge an existing VASP registration into full CASP authorisation?". That is where the timeline, the required own funds and the strength of the AML/CFT setup are decided — the three areas the FSMA scrutinises most closely.

VASP Registration with FSMA

Registration with FSMA is mandatory for:

• Exchange of virtual currencies for fiat
• Exchange between virtual currencies
• Wallet services (crypto custody)
• Trading platform operation

MiCA Transition

• June 2024: Stablecoin rules (ARTs and EMTs)
• December 2024: Full CASP regime
• EU Passport: MiCA authorization allows operation across all 27 EU countries

Why Belgium?

• Clear and predictable regulatory framework
• FSMA as single point of contact
• Central European location
• Developed fintech ecosystem