As others have said, there should be no problem running through the VCR, if it's a decent quality unit. As Gollo points out, you'll be using it as an RF converter. If the standard wherever you are operates the same as the PAL models in Australia, even if your TV is stereo, the modulator will only give you mono sound. This would be overcome if you run the sound through a hi-fi system.

The copy protection modifies the signal in a way that will interfere with the recording process, so will not normally cause any problems just passing through the VCR circuitry, unless the modulator in the VCR is poor quality.