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Pi Network (PI) has officially filed under the European Union’s Markets in Crypto-Assets (MiCA) regulations. This step will provide Pi Coin with complete legal standing in the European market.
🚨BREAKING: Pi has officially filed under the EU regulation MiCA — a major step towards legal listing and adoption in the future.#PiNetwork pic.twitter.com/7rwhaNUq6a
— Pi News (@PiNewsMedia) November 21, 2025With MiCA compliance in place, the project plans to pursue listings on regulated European exchanges once market-admission approvals are obtained. Pi Network stresses that it has conducted no fundraising and that all existing PI trading takes place on secondary markets.
Pi Network checks the boxes of the MiCA regulations
This filing outlines Pi Network’s intention to qualify as a crypto-asset under the EU’s Markets in Crypto-Assets Regulation (MiCA), with November 28, 2025, being the start date for public trading.
The project emphasizes that it conducted no initial coin offering; instead, it distributed tokens through mobile mining and community participation. Of its 100 billion maximum supply, 8.2 billion tokens are currently in circulation.
Pi Network states that it has implemented comprehensive KYC/KYB requirements, third-party audits, fraud-prevention systems, and a non-custodial wallet that provides users with complete control. It has also given the warning that lost private keys cannot be recovered.
Additionally, the document also states that Pi tokens do not give owners voting rights or dividends. They are intended solely for payments within the ecosystem. The filing lists host member states, such as Germany, France, and Italy. It outlines plans for a pan-European entry through MiCA-compliant exchanges, such as OKCoin and OKX, both of which are licensed in Malta.
Recently, Pi Network joined the ISO 20022 standards group, placing it among compliant digital assets such as Ripple (XRP) and Stellar (XLM). This move is crucial to enable Pi Coin to interact with the global financial system more efficiently.
Investors voice their frustrations about PI
Even after bullish news, pioneers are still anxious. The PI community has voiced concerns that a public market may not be sustainable. According to them, it may result in the inability to sell Pi. The Pi whitepaper stated that any developed public market for Pi may nonetheless be relatively new and subject to little or no regulatory oversight, making it more susceptible to fraud or manipulation.
Additionally, although the network has the goal of decentralization, critics note that the development process and strategic decisions remain highly centralized within the founding team. Reports suggest that the Core Team controls a large majority of the total token supply.
An X user stated, “There is no decentralization, announcements have not gotten fulfilled and developed, 2 people in the network control everything. Demand is extremely down, and the on-chain usage of $Pi is poor.”
Great, so the EU regulators are getting updates before the Pioneers do?
A MiCA filing is meaningless to the millions of us still stuck in "Tentative Approval" purgatory or waiting on a migration that never happens.
We don't need more government compliance paperwork, we need…
Scheduled unlocks of large amounts of Pi tokens have also raised concerns about market flooding and significant downward price pressure.
An X user stated, “A MiCA filing is meaningless to the millions of us still stuck in “Tentative Approval” purgatory or waiting on a migration that never happens. We don’t need more government compliance paperwork, we need Step 9 to actually turn green. Fix the backlog before you marketing tricks.”
Pi coin surges amidst the crypto market blood bath
Pi Coin is gaining strong traction after the news lifted the token to a weekly high. Strengthening demand and accelerating inflows have supported Pi Coin’s upward movement.
Market sentiment has strengthened notably, with the Chaikin Money Flow showing a sharp rise over the past few days. CMF measures capital flows, and a move into positive territory signals increasing inflows. Pi Coin’s CMF is climbing quickly, suggesting that investors are actively adding liquidity to the asset.
Top 5 crypto coin performance. Source: CoinMarketCapThe coin has seen a 7% increase in the last week. However, the price is now steady, with a minor decline, which has landed the coin at $0.2339. At the same time, the top coins have seen double-digit declines. Bitcoin is down over 12%, Ethereum is down over 13%, XRP is down over 15%, and BNb is down over 10% in the last week.
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