#PI Recently, Pi Network has released updates regarding KYC mechanism surveys, Mainnet migration progress, and the launch of a decentralized exchange, as detailed below:

The KYC mechanism is questioned by the SEC: The U.S. Securities and Exchange Commission (SEC) has recently launched an investigation into the KYC process of Pi Network, questioning its user data collection and anti-money laundering compliance. Although the Pi team responded that they have passed the EU GDPR certification, some exchanges have still suspended the withdrawal function for Pi coins. As a result, the price of Pi coins has adjusted by 15% within a week.

Mandarin Mainnet migration delay: On June 13, news shows that the Mainnet migration process in the Mandarin community has been delayed due to the need to accurately identify genuine users from violators. The Mandarin accounts have a higher incidence of violation reports compared to other regions, including automated script mining, coin washing, and mining farm clusters, as well as many unofficial impersonators spreading false misleading information.

PISwap is coming soon: PISwap, the first decentralized exchange in the Pi Network ecosystem, is scheduled to be officially launched for trading at 20:00 on June 13, 2025. The platform has been fully audited by Beosin, a globally recognized security auditor, and its core transaction logic, smart contracts, and asset flow mechanism are all in compliance with security standards.