XION Achieves EU Compliance

XION, a layer 1 blockchain backed by Circle and Multicoin, has become the first mainnet platform to comply with European Union regulations.

The walletless blockchain, focused on bridging web2 and web3, announced this milestone in a press release shared with crypto.news on March 13. Following the news, the utility token—used for network fees, governance, and proof-of-stake security—experienced a boost of over 10%.

At the time of writing, XION was trading around $0.90.

According to the venture capital-backed L1, EU compliance also marks XION as the first blockchain network to release a Markets in Crypto-Assets whitepaper.

Achievements

XION reached this milestone a few months after launching its mainnet and conducting a gamified initial token airdrop. The chain abstraction mainnet went live in early December, just days before the EU’s MiCA rules took full effect on December 30, 2024.

With this achievement, XION is the first layer 1 platform to align with MiCA’s Title II regulatory framework, which provides guidelines for governing crypto-assets across the European Union. The XION team intends to leverage the regulatory clarity that MiCA offers to expand its presence in the region by targeting institutional investors.

> “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,” said Burnt Banksy, founder at XION.

Regulatory Framework

Title II of the EU’s comprehensive market guidelines targets digital asset issuers, offerors, and providers aiming to bring their crypto trading products to customers in the 27-member bloc.

XION plans to use this compliance milestone to accelerate Web3 access, with its technological stack designed to remove barriers hindering broader adoption. Key features of XION’s infrastructure layer include generalized abstraction, meta accounts, and signature abstraction.

Related Article: OKX acquires MiFID II license in Europe.