VeChain has confirmed that its tokens are in compliance with European regulations following validation from the European Securities and Markets Authority.
On March 18, VeChain (VET), a blockchain designed for real-world decentralized applications, announced this significant achievement.
Specifically, the tokens VET and VeThor Token have now been registered under the Markets in Crypto-Assets Regulation, also known as MiCAR. This follows VeChain’s submission of the VET and VTHO whitepapers to the European Securities and Markets Authority, which subsequently acknowledged the registration.
VeChain emphasized that this accomplishment is more than just regulatory approval and transparency; it represents another step towards broader acceptance in the mainstream market.
“This milestone ensures that VET and VTHO tokens are compliant with European regulations within the unified MiCAR framework, enabling continued operations and growth across EU member states,” stated the VeChain team.
With the MiCAR framework now established, VeChain can expand its services and operations across all 27 EU nations. This regulation, which took effect in June 2023, standardizes the crypto regulations within the union, aiming to improve market integrity and safeguard investors.
Last year, the regulatory authority for MiCAR released a central register for digital asset white papers, with full implementation of the Markets in Crypto Assets regulation set for December 30, 2024. VeChain has utilized this framework to achieve compliance for VET and VTHO.
The MiCAR framework is being rolled out in phases, extending beyond 2025 and into 2026. Consequently, VeChain is positioned strategically to leverage this opportunity and introduce its X-2-Earn program to users in the EU.
X-2-Earn is an initiative centered on sustainability that incentivizes users to earn tokens through verified environmentally friendly actions.