Layer 1 Blockchain XION Becomes the First Mainnet Platform to Comply with European Union Regulations

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

Layer 1 blockchain XION, backed by Circle and Multicoin, has become the first mainnet platform to comply with European Union regulations, according to an announcement by the startup.

Following the news, the XION token price rose more than 10%.

According to the announcement, EU compliance also sees XION become the first blockchain network to release a Markets in Crypto-Assets whitepaper.

This achievement comes 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 now 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 plans to leverage the regulatory clarity that MiCA offers to expand its footprint in the region by targeting institutional investors.

“We are proud to announce that XION has achieved compliance with the European Union's MiCA regulations. This milestone is a testament to our commitment to building a safe, secure, and compliant Web3 ecosystem,” said Burnt Banksy, founder at XION.

“As the first mainnet L1 to fully align with MiCA's Title II, which targets digital asset issuers, offerors, and providers operating in the EU's vast market, we are excited to open new possibilities for institutions and broaden the adoption of Web3.”

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

According to the official statement, XION will use this milestone to accelerate Web3 access, with its technology stack helping to remove the hurdles that hinder broader adoption. Generalized abstraction, meta accounts, and signature abstraction are key features of XION’s infrastructure layer.