VeChain Achieves European Compliance for Its Tokens
VeChain has made a significant stride by ensuring its tokens comply with European regulations. Teh announcement came on March 18,confirming that VeChain’s VET and VeThor Token (VTHO) are now in line with the Markets in Crypto-Assets Register,or MiCAR.
VeChain submitted whitepapers for VET and VTHO to the European Securities and Markets Authority (ESMA). ESMA then confirmed the registration. this move is crucial as it allows VeChain to operate and expand across all 27 EU member states.
MiCAR,effective as June 2023,aims to standardize crypto regulations in the EU. It enhances market integrity and protects investors. ESMA, the regulatory body, released its central register for digital asset white papers last year.Full MiCAR regulation will be in effect by December 30, 2024.
VeChain’s compliance with MiCAR is not just about meeting regulations. It’s a step towards mainstream adoption. The company plans to leverage this possibility to introduce its X-2-Earn program to EU users. X-2-Earn is a sustainability-focused initiative that rewards users for verifiable lasting actions.
With MiCAR’s phased implementation extending through 2026, VeChain has a strategic advantage. This compliance opens doors for the platform to grow and innovate within the EU market.
