Pi Network Sets Stage for EU Expansion With New MiCA-Compliant Whitepaper

• Pi Network has entered the EU Market following full compliance with the Markets in Crypto-Assets (MiCA) framework.
• PI Coin jumped more than 9.7% in just 24 hours in reaction to the positive ecosystem news.

Pi Network (PI), a mobile-first crypto project launched in 2019, announced it has achieved full MiCA compliance through an updated Whitepaper. This achievement sets the stage for Pi Network expansion into the European Union (EU).

Pi Network Positions for Formal EU Market Access

As detailed in the updated Whitepaper, the MiCA approval marks a major step for Pi Network to enter mainstream, supervised markets.

The Markets in Crypto-Assets (MiCA) is the EU’s comprehensive regulatory framework for cryptocurrencies, which became fully effective as of late 2024. 

It aims to protect consumers, prevent money laundering, and ensure market stability by classifying crypto assets into categories.

On the other hand, Pi is a Layer-1 blockchain built on the Stellar Consensus Protocol and Federated Byzantine Agreement mechanisms.

The project emphasizes that it distributed tokens through mobile mining and community participation instead of conducting an initial coin offering. 8.2 billion PI tokens are currently in circulation out of its 100 billion maximum supply.

The Pi Network said it has implemented complete KYC/KYB requirements under the newly revised framework. This is in addition to third-party audits, fraud-prevention systems, and a non-custodial wallet that gives users complete control.

It is important to note that this is not a new token launch, but a formal filing to enable secondary market trading under MiCA rules. The whitepaper builds on Pi’s original 2019 document, where the project highlighted plans to incorporate regulatory updates.

The document adds that Pi tokens confer no ownership, governance rights, or dividends and are intended solely for payments within the ecosystem.

This filing positions Pi for admission to trading on MiCA-licensed exchanges. It is a self-declaration of compliance, but market-admission approvals are still pending.

As PI trades on regulated platforms like OKX Europe, it could potentially boost liquidity and price stability. It could also help attract institutions wary of unregulated projects and set a precedent for compliance in other regions.

PI Coin Price Reacts

PI, the native token of the Pi Network, has reacted positively following the MiCA compliance announcement. 

As of press time, PI has increased by 9.75% over the past 24 hours to $0.2493. The trading volume also surged by an outstanding 372.8% to $75.5 million, suggesting increased investor interest.

This spike in the price of PI and trading volume is quite notable as it comes amid a broader market decline. As we covered in our latest report, PI even plunged 4% in 24 hours amid rising exchange reserves. 

However, analysts predicted a bullish price rebound, fueled by upcoming token unlocks, pending upgrades, recent partnerships, and a strong technical outlook.

Additionally, Pi Network announced plans to use its 50-million-plus nodes to create a decentralized AI compute layer. Through this innovation, Pi aims to reduce dependence on big cloud providers.

Intriguingly, Pi is just one among other top blockchains that have received compliance with the MiCA framework. As highlighted in our previous article, Aave Labs recently received MiCAR approval in Ireland. This approval allows Aave to offer zero-fee fiat-to-stablecoin access across 30 EEA markets.

In a similar move, the European Securities and Markets Authority (ESMA) has approved  VeBetter’s B3TR token under the EU MiCAR framework.