VeChain has announced its tokens are compliant with European regulations after receiving confirmation from the European Securities and Markets Authority.
VeChain (VET), the blockchain for real world decentralized applications, shared the milestone in an announcement on March 18.
Specifically, VeChain’s tokens VET and VeThor Token are now compliant with the Markets in Crypto-Assets Register, or MiCAR. This is after VeChain submitted VET and VTHO whitepapers to the European Securities and Markets Authority, which notified the platform of this registration.
According to VeChain, the milestone goes beyond regulatory compliance and transparency. Rather, MiCAR is one more step towards mainstream adoption.
“This achievement sees VET and VTHO tokens compliant with European regulations under the unified MiCAR framework, allowing operations to continue and expand across EU member states,” the VeChain team wrote.
With the MiCAR framework in place, VeChain will be able to passport its services and operations across all 27 EU member states. This is because the regulation, effective since June 2023, has standardized crypto regulations for the bloc, with this aimed at enhancing market integrity and protecting investors.
ESMA, the regulatory watchdog for MiCAR, released its central register for digital asset white papers last year. The effective date of full Markets in Crypto Assets regulation was December 30, 2024. VeChain leveraged its framework to seek compliance for VET and VTHO.
The MiCAR framework adopts a phased implementation, with this going beyond 2025 and through 2026. As such, VeChain has a strategic advantage that could see it exploit the opportunity to bring its X-2-Earn program to EU users.
X-2-Earn is a sustainability-focused initiative incentivizing users by allowing them to earn tokens with verifiable sustainable actions.
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