- XION has become the first Layer 1 blockchain to release a MiCA-compliant whitepaper, aligning with EU regulations for crypto-assets.
- This ensures regulatory clarity, supporting the broader adoption of Web3 by institutions and users in the EU.
In an effort to enhance the bridge between Web2 and Web3, XION, a walletless blockchain, has announced its move to comply with EU regulations per the regulatory framework that governs crypto assets in the European Union. With the Release of MiCA (Market in Crypto-Assets) whitepaper, XION has become the first Layer 1 blockchain on the mainnet to do so in the EU.
Burnt Banksy, Founder at XION, believes that releasing the MiCA whitepaper is the right direction for XION as it looks to bridge Web2 and web3. In a statement, Burnt said:
“The release of a MiCA whitepaper is a key step in a broader institutional strategy […] By adhering to the EU’s evolving regulatory landscape, it ensures that institutions and users can both gain access to XION in a compliant manner, strengthening the foundation for broader adoption of Web3.”
Institutions in the EU now have unconstrained access at their disposal to leverage the XION ecosystem and technology in compliance with MiCA. With the compliance with the EU MiCA in place, Xion has proven its commitment to easing access for both institutions and individuals that have adopted Digital Assets.
MiCA Reguratory flamework
Title II of MiCA (Market in Crypto-Asset) is a comprehensive set of regulations that came into effect in December 2024 in the EU. These regulations aim to create a unified regulatory framework for crypto-assets across the EU and create clear guidelines for issuers and entities wishing to offer or trade digital assets.
XION has positioned itself as a key player by aligning with MiCA to ensure its ecosystem operates transparently and within the bounds of European law.
Also Read: OKX obtains MiCA license and extends cryptographic services to 28 EEA countries
About XION
XION is a walletless Layer 1 blockchain designed to make Web3 accessible to everyone. XION is revolutionizing Web3 by creating the first walletless Layer 1 blockchain. With a mission to simplify blockchain adoption, XION eliminates the need for wallets, private keys, and gas fees, making the technology accessible to users and developers.
Its innovative solutions, including Generalized Abstraction and Meta Accounts, help accelerate the mainstream adoption of Web3.
