$PI Decorate when the market is rising across the board, and be most active during declines.

$PI According to the rules of the U.S. CLARITY Act, Pi Network (π coin) is highly likely to be classified initially as an "investment contract asset" (security type), and currently does not meet the conditions to be converted into a "digital commodity." The core basis is as follows: 1. Core logic of the Act's classification The Act divides digital assets into three categories: Digital commodities: Decentralized, value not dependent on efforts of a specific entity, regulated by the CFTC (such as Bitcoin, Ethereum); Investment contract assets: Meet the Howey test (investment of funds, expectation of profit, common enterprise, profit dependent on the efforts of others), regulated by the SEC; Payment stablecoins: Pegged to fiat currency, regulated separately. Key conversion path: "Investment contract assets" must prove complete decentralization (no core team control, unalterable code, community governance), and can apply to convert into "digital commodities." 2. Determination of Pi Network's security attributes Meets the Howey test: Users "mine" by investing equipment/time, recruit new users to increase computing power, with core expectations of token appreciation (profit expectation); value entirely depends on the project team advancing the mainnet, trading ecosystem, etc., constituting a "common enterprise," thus fitting the definition of a security. Significant centralization features: Has not launched a decentralized mainnet; nodes, code, and rules are controlled by the team, with no community governance rights. The premise for conversion to a "digital commodity" is not met. Lack of actual value support: Not linked to physical assets; prices are solely driven by speculation, with no commodity attributes (such as payment or application scenarios), and do not meet the definition of a commodity.

$PI has been active for seven or eight years, and the biggest impression is that in the pi chat window, you cannot question anything from the project team. If they say they can turn stone into gold, you must say it's 100% possible; otherwise, you'll be permanently muted. No wonder there's a ban, with so many people opening their butts and such a huge window that can't fit in! I wonder how long these two people will keep playing with just such a simple, ordinary KYC?