Recently, news about Pi Network has emerged regarding the investigation of the KYC mechanism, progress of the Mainnet migration, and the launch of the DEX, as follows:

The mechanism of KYC has been questioned by the SEC: The U.S. Securities and Exchange Commission ( SEC ) has recently started investigating the KYC process of the Pi Network, questioning the collection of user data and anti-money laundering compliance. Although the Pi team responded that they have obtained GDPR certification from the EU, some exchanges have still suspended the withdrawal function of Pi coins. As a result, the price of Pi coins has dropped by 15% within a week.
Delay in Mainnet Migration in Chinese-speaking Regions: According to news on June 13, the Mainnet migration process in the Chinese-speaking community has experienced delays due to the need for careful examination of real and fraudulent users. Reports of violations related to Chinese accounts are more frequent than in other regions, including automated analyses of scripts, hot pot, and mining cluster, as well as a large amount of misinformation spread by unofficial impersonators.
PISwap is about to launch: The first decentralized exchange in the Pi Network ecosystem, PISwap, is scheduled to officially start trading on June 13, 2025, at 20:00. The platform has undergone a comprehensive review by the globally renowned auditing firm Beosin, ensuring that its core trading logic, smart contracts, and liquidity mechanisms meet security standards. #Gate BTC链上质押收益百分之三#