Exchanges

🗣️What is #KYB in #PiNetwork ?
Many of you have heard the term KYB and are wondering about its meaning and role in Pi Network,so I will explain this concept to you in detail so that the picture is clear to everyone.
1️⃣ What is KYB?
KYB is an abbreviation for a set of standards and protocols that any entity,including exchanges and financial platforms,must adhere to if they want to be part of the Pi Network economy.These standards ensure that any party dealing with Pi currency operates within the framework of the network and adheres to its rules.
2️⃣ Why was KYB created?
KYB was created to ensure that all platforms that want to list Pi Network are not just traditional exchanges aimed at speculation,but must be part of the closed economy that the network is building, where Pi is traded as a real currency used for buying and exchanging and not just for trading in secondary markets.
3️⃣ How does KYB affect the listing of Pi on exchanges?
Many exchanges want to list Pi Network,but they will only be able to do so if they adhere to the KYB standards,which means:
✅ Being part of the Pi Network and not just an external trading platform.
✅ Supporting a closed economy instead of open speculation.
✅ Operating within the rules and standards set by the Pi Core Team to ensure the stability of the currency and protect it from manipulation.
4️⃣ Does this mean that any exchange can list Pi?
❌ No,not any exchange can list Pi Network unless it is recognized within the network and follows the KYB standards.This means that listing will be selective and no unqualified platform will be allowed to trade Pi unofficially.
5️⃣ What does this mean for the Pi Network community?
🔹 This means that Pi Network does not need traditional #exchanges ,but rather the opposite,exchanges need Pi to be part of this new #system
🔹 This proves that the Pi economy is built on a solid foundation,as the listing mechanism is carefully controlled to ensure sustainability.
🔹 This reinforces the vision of a closed economy and confirms that Pi is not just a speculative currency,but an integrated financial system.
📍#conclusion
💡 KYB is a system that ensures that any platform that wants to list Pi Network must be part of the network and not just a traditional exchange that aims to speculate.
💡 Listing Pi Network on exchanges will not be random,and any platform that does not meet KYB criteria will not be allowed to list the currency.
💡 This reinforces the strength of Pi Network as a real currency within an independent economic system.
That's why,from the beginning, we have been saying "Pi is not a platform currency, everyone will be inside the network",and this is what is happening now! 🚀
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Potential major regulatory changes for the #cryptocurrencymarket are being actively discussed in #SouthKorea this week. The Financial Service of Korea (FSC) is considering lifting the ban on spot ETFs, as well as allowing institutional investors to open accounts on #exchanges . These moves signal a softening of the supervisory authorities' stance towards digital assets and their integration into traditional finance. Since 2018, institutional players have been unable to trade cryptocurrencies due to strict requirements.

At the same time, cryptocurrency is increasingly being incorporated into Korea's legislative processes. According to the norms of the Civil Code, digital assets can be divided between spouses in the process of divorce. The Supreme Court of Korea already in 2018 recognized cryptocurrencies as intangible assets, which allows them to be taken into account in the division of property. Moreover, if one spouse suspects the other of having cryptocurrency accounts, the court can further investigate.

These measures reflect the growing importance of digital currencies as a financial instrument and their increasing use in various spheres of life - from investments to family law. The possible lifting of the ban on spot ETFs will create new opportunities for local investors, especially against the backdrop of the global trend towards the growing popularity of such funds.

In addition, the changes may strengthen South Korea's competitive position in the global cryptocurrency market. This will open up new prospects for the country to develop blockchain technologies and attract foreign investment.

However, it is important to note that despite these positive steps, cryptocurrency markets remain under the scrutiny of regulators. Possible changes will require careful consideration to balance the interests of both #investors and the state, while maintaining the necessary level of protection and transparency.
#MemeCoinTrending

Blockchain protocol #EigenLayer ($EIGEN
), focused on restacking in the Ethereum network, has failed to meet #investors ' expectations, Alex Obchakevich, founder of cryptoanalytics company Obchakevich Research, is convinced.

The researcher emphasized that EigenLayer attracted a lot of attention in its early days and received a whopping $64.5 million from venture capital funds. EigenLayer promised “innovations in liquid staking, providing high returns for users and reliability for investors,” but failed to deliver, Obchakevich emphasized.

He explained that users of the EigenLayer protocol expected significant profits from the placement of their assets, but in fact the amounts were many times lower than expected, which caused a lot of dissatisfaction. For this reason, the transparency of the project was questioned.

In addition, the community suspected insider trading and market manipulation after EIGEN tokens were sold for a whopping $2 billion after #listing on major crypto #exchanges .

Meanwhile, the EIGEN token has soared nearly 7% in the past 24 hours and is up as much as 15.45% in the past seven days. The crypto asset is now trading just 13.5% below its all-time high of $4.53.
#moonbix