VeChain has partnered with the Crypto Carbon Ratings Institute (CCRI) to align with the European Union’s Markets in Crypto-Assets (MiCA) regulation, which mandates sustainability disclosures for crypto issuers and service providers. MiCA requires these entities to reveal the environmental impact of their activities, a significant move towards transparency and sustainability in the crypto industry.
VeChain is noted for its energy efficiency, using only 0.000216 kWh of electricity per transaction, positioning it as one of the most eco-friendly blockchains. This low energy consumption is highlighted in VeChain’s collaboration with CCRI, aiming to meet MiCA’s stringent environmental, social, and governance (ESG) data requirements. VeChain’s efforts towards sustainability are further backed by its VeChainThor blockchain, which boasts a minimal carbon footprint of 4.46 t CO2e/year for its network of 101 authority master nodes.
MiCA’s regulations, becoming fully effective by December 2027, require comprehensive ESG data disclosure in crypto whitepapers, ensuring that any adverse environmental impacts are transparently communicated. VeChain’s strategic move underscores its commitment to sustainability and regulatory compliance, aiming to leverage blockchain technology for promoting sustainability through transparency, traceability, and efficient resource management.
At the time of reporting, VeChain’s token (VET) was trading at $0.02, reflecting a 2.6% decline in the past 24 hours. This partnership with CCRI is expected to enhance VeChain’s position as a leading sustainable blockchain network.
Source: crypto-news-flash.com
