Key Takeaways
- • Crypto investors can verify a platform's licence by searching the legal name on the regulator's own website rather than trusting screenshots or PDFs hosted by the platform itself.
- • The European Banking Authority (EBA) maintains a free, searchable central register of authorised payment and electronic money institutions under PSD2, which can also be downloaded in full or in machine-readable format.
- • National competent authorities, not the EBA, grant authorisations and are responsible for keeping their register entries accurate, with updates at least once per day.
- • Warning signs of a fake crypto exchange include a missing or unverifiable regulator name, no licence reference number, and a domain that cannot be confirmed independently.
- • Regulators such as the Dutch AFM publish crypto registers covering crypto-asset service providers (CASPs) authorised or notified under MiCA.
Summary
A guide published on CryptoTicker, titled "Fake EBA Register: How to Check a Crypto Licence," sets out practical steps for confirming whether a crypto platform is actually licensed. The core advice is to type the regulator's web address manually and search the firm's legal name on the regulator's own site, rather than relying on a screenshot or PDF that the platform hosts. The original article could not be retrieved in full, so this summary draws on the publisher's excerpt and related regulator and publisher material surfaced in the same search.
The European Banking Authority's central register of payment and electronic money institutions was established under Article 15(1) of PSD2 (Directive (EU) 2015/2366) to increase transparency and consumer protection across the EU and EEA. According to the EBA, national competent authorities supply the register's information and are responsible for its accuracy, with updates made at least once per day. The register covers payment institutions, electronic money institutions, agents, EEA branches and other categories defined under PSD2 and the EMD2. It can be searched free of charge and downloaded in full. The EBA also publishes links to national registers for each member state.
For crypto-specific verification, the sources point to regulator-run tools such as the Dutch AFM's crypto register, which lists crypto-asset service providers that have obtained an authorisation or notification, and the VASP and MiCA search tools that identify licensed providers. The EBA has also noted that the exchange of crypto-assets is excluded from PSD2 licensing requirements, so a PSD2 licence alone does not cover all crypto services.
Common red flags for a fake exchange include the absence of a named regulator or licence reference number, which should normally appear in the footer or on a dedicated regulatory page, and a domain that cannot be verified independently. Regulators and investor-protection bodies such as the California DFPI also maintain scam trackers and warnings on fraudulent crypto trading licences, and investors are advised to check a claimed trader's registration status before doing business.
The European Banking Authority's central register of payment and electronic money institutions was established under Article 15(1) of PSD2 (Directive (EU) 2015/2366) to increase transparency and consumer protection across the EU and EEA. According to the EBA, national competent authorities supply the register's information and are responsible for its accuracy, with updates made at least once per day. The register covers payment institutions, electronic money institutions, agents, EEA branches and other categories defined under PSD2 and the EMD2. It can be searched free of charge and downloaded in full. The EBA also publishes links to national registers for each member state.
For crypto-specific verification, the sources point to regulator-run tools such as the Dutch AFM's crypto register, which lists crypto-asset service providers that have obtained an authorisation or notification, and the VASP and MiCA search tools that identify licensed providers. The EBA has also noted that the exchange of crypto-assets is excluded from PSD2 licensing requirements, so a PSD2 licence alone does not cover all crypto services.
Common red flags for a fake exchange include the absence of a named regulator or licence reference number, which should normally appear in the footer or on a dedicated regulatory page, and a domain that cannot be verified independently. Regulators and investor-protection bodies such as the California DFPI also maintain scam trackers and warnings on fraudulent crypto trading licences, and investors are advised to check a claimed trader's registration status before doing business.
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