Pi Network successfully registered in the EU! KYC verifiers' rewards will be distributed soon.

Pi Network has registered its entity PIBIT LTD under the EU regulatory framework, marking a significant step forward in formal regulation. The project has been incorporated within the legal frameworks established by the European Securities and Markets Authority (ESMA) and the Malta Financial Services Authority (MFSA), preparing to comply with the MiCA regulations. Pi Network’s KYC verifiers control panel now displays “PI tokens will be distributed soon,” indicating that the long-awaited token rewards may be issued to verifiers soon.

EU Registration: Pi Network Moves Toward Regulatory Compliance

(Source: Pi Network APP)

Pi Network has officially registered its entity PIBIT LTD under the EU regulatory framework, signifying an important step in its pursuit of formal regulation. Previously, the project mainly operated through mobile mining and community development efforts. Now, it has been incorporated within the legal frameworks set by the European Securities and Markets Authority (ESMA) and the Malta Financial Services Authority (MFSA). This registration demonstrates Pi Network’s readiness to comply with MiCA (Markets in Crypto-Assets) regulations. As Europe tightens crypto regulations, these laws are becoming increasingly significant.

MiCA is a comprehensive EU regulatory framework for crypto assets enacted in 2023, designed to provide legal certainty, protect investors, and prevent market manipulation. The regulation requires crypto asset service providers (CASPs) to obtain authorization and adhere to strict disclosure, capital, and operational standards. Pi Network’s choice to register under MiCA indicates a serious approach to compliance rather than an attempt to evade regulation.

Malta, as the registration location, holds strategic importance. Known as the “Blockchain Island,” Malta is one of the most crypto-friendly jurisdictions within the EU. MFSA has extensive experience regulating cryptocurrencies and has provided oversight for well-known exchanges including Binance. Choosing Malta helps satisfy EU compliance requirements while offering a relatively friendly regulatory environment.

For the Pi community, this marks a shift from a promise-driven development model to operating within a structured, regulated environment. Since its launch in 2019, Pi has faced criticism over lack of regulatory transparency and the delayed mainnet launch. Many critics have labeled it as a “shitcoin” or “Ponzi scheme.” The EU registration offers some reassurance, demonstrating Pi Network’s willingness to undergo scrutiny by official regulatory bodies.

While some community members see this as fulfilling long-held expectations for legal clarity, others remain cautious and continue to question the project’s viability. Nonetheless, this registration underscores Pi Network’s commitment to building credibility in the broader crypto space. For a project with millions of users, compliance is not just a legal requirement but also essential for long-term trust.

KYC Verifier Rewards: “Tokens Coming Soon” Message Sparks Expectations

Another major development for Pi Network involves its verifier system. The KYC (Know Your Customer) verifier control panel now displays a message: “PI tokens will be distributed soon.” This update suggests that the long-awaited token rewards may be soon distributed to verifiers. These verifiers play a crucial role in authenticating users’ identities and maintaining network integrity. So far, their efforts have not been rewarded with tokens, but the latest update indicates reward distribution may be imminent.

Pi Network’s KYC system differs significantly from traditional crypto projects. Most blockchain projects rely on decentralized or automated verification mechanisms, while Pi employs an manual verification process. This approach requires a large community of members to act as verifiers, reviewing submitted identity documents. The design aims to prevent bots and fake accounts, ensuring each user is a real individual.

Verifiers are vital to network security. Many have demonstrated accuracy rates exceeding 90%. This high reliability is critical for Pi’s transition to mainnet, where automated reward mechanisms will further support its goal of becoming the largest human-verified crypto network. Verifiers often need to review hundreds or thousands of KYC applications, requiring substantial time and effort.

Three Key Features of the KYC Verifier System

Manual Review Process: Each KYC application is cross-verified by multiple verifiers to ensure accuracy

High Accuracy Requirement: Verifiers must maintain over 90% accuracy to continue serving

Community-Driven Model: Verifiers are members of the Pi community, not third-party institutions

Once token rewards are implemented, it will mark an important milestone in Pi Network’s development, reinforcing its technical and identity infrastructure. It will also compensate verifiers’ long-term unpaid labor, further motivating more users to participate in verification. Details of the reward mechanism, including the number of tokens, distribution standards, and timing, have yet to be announced. The community is closely watching for official updates.

BNPi Travel App: From Concept to Practical Step

Pi Network continues to focus on increasing the real-world utility of its tokens and has launched the BNPi travel application. The app allows users to book and pay for hotel stays using Pi tokens. BNPi offers an attractive value proposition: reducing costs for hosts and providing more competitive prices for travelers. This enhances Pi’s practical application scenarios, which have long been criticized as lacking real-world use.

With BNPi, users can now book hotels in multiple countries and exchange mined Pi tokens for spendable currency. The launch of this app represents a strategic step toward building a practical ecosystem. Pi Network is shifting from price speculation or exchange trading to positioning itself as a project that offers tangible benefits and real use cases.

BNPi’s business model is based on lowering intermediary fees. Traditional online travel platforms (OTAs) like Booking.com or Expedia typically charge 15% to 25% commissions from hotels. BNPi aims to significantly reduce these costs using Pi tokens for settlement, making it possible for hotels to offer better prices. For travelers, paying with Pi tokens might yield better prices than traditional platforms, giving real utility to the tokens mined.

However, BNPi’s success depends on several critical factors. First, hotel acceptance—enough hotels must be willing to accept Pi tokens as payment. Second, price competitiveness—BNPi’s prices must be truly better than traditional platforms to attract users. Third, user experience—the app’s interface, booking process, and customer service need to meet mainstream standards. Fourth, legal compliance—issues related to cross-border payments and consumer protection must be properly addressed.

From Price Speculation Back to Value Creation

As Pi Network advances in regulatory registration, verifier rewards, and practical projects, attention appears to be shifting away from speculative claims about token prices. Recently, some posts claimed Pi’s token price reached six figures, but these are based on unverified community sources. In contrast, recent regulatory actions and real-world applications demonstrate tangible progress.

While price speculation still sparks debate within the community, focus is increasingly on actual utility, compliance, and network growth. Pi Network’s strategy reflects a long-term approach—building a solid infrastructure that directly benefits users rather than relying on hype or unrealistic price forecasts. Prioritizing compliance, technological stability, and consumer-oriented applications, Pi is steadily moving toward a more sustainable adoption model.

This shift is crucial for Pi Network’s long-term survival. The crypto market has experienced multiple bull and bear cycles, and many projects that depended solely on hype have vanished in bear markets. Only projects with real applications and user value can endure these cycles.