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For an email to be utilized in a Smart Campaign within Marketo, it must be approved. This approval process ensures that the email complies with the necessary standards and guidelines, which can include branding, content, and compliance with regulations. Approval acts as a quality control mechanism, preventing unverified or unformatted content from being sent to recipients. Only after the email has passed the approval stage can it be fully integrated into the Smart Campaign workflow.

In terms of other options, the requirement for tokens or the type of asset (such as local or global) does not directly influence the ability to use an email in a Smart Campaign, as tokens can be included or omitted based on the campaign's needs, and both local and global assets can be used if they meet the approval criteria.