- VeChain received MiCAR approval for its Hayabusa upgrade.
- Exchanges and industry partners welcome and support the hard fork.
VeChain has received the green light for the highly anticipated Hayabusa upgrade. After the community accepted the VeChain-Hayabusa hardfork upgrade, the updated MiCA whitepapers for VET and VTHO are now being forwarded to regulators.
Das VeChain Hayabusa-Upgrade has received the green light from EU regulators. With support from the community and partners ready for the hard fork, the blockchain is gearing up for a major upgrade. On X it says:
“MiCA is one of the most important regulatory frameworks for digital assets in Europe, covering 27 countries and imposing transparency, disclosure and risk management obligations. VeChain … is focused on the next phase of its roadmap … to support long-term value creation.”
To further expand VeChain’s potential, major exchanges and financial partners have also expressed interest. This allows liquidity providers, custodians and market participants to confidently assess the potential of the upgrade.
It is noteworthy that this development follows VeChain’s acquisition of Wanchain USDC. As CNF reported, VeChain has officially ended its collaboration with Glo Dollar stablecoin USDGLO and is accepting USD instead.
Hayabusa Upgrade power VeChain MiCAR compliant
According to VeChain’s official statement, they are now fully MiCAR compliant. Since the community approved the upgrade, the MiCAR white papers for VET and VTHO have been officially updated.
How CNF reportedthe updated white paper includes the introduction of a DPoS (Delegated Proof of Stake) consensus and a renewed VTHO token economics. However, these updates will occur within the framework of the already existing dual token system.
In addition, the white paper describes the working mechanism of VET and VTHO. It also explains the key features of the VeChain Hayabusa hard fork. The new one White paper summarizes the token roles, economic details and upgrade features.
Hintergrund: Markets in Crypto-Assets Regulation (MiCAR)
The European Union requires a MiCAR license for crypto companies to establish themselves in the EU internal market. It is therefore a prerequisite for the legal business operations of crypto companies in the 27 EU member states.
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