Let's talk about the twists and turns behind this. First of all, the biggest problem lies in supervision. Some local governments, because of fear of financial chaos and money laundering, have been very strict on those coins that have not yet been clarified whether they are legal.
Pi's main network has not been officially launched yet, and it is unknown how to go about compliance. It is also unclear what the project is doing. It is still in the testing stage, and the economic model and what it can do are not clear. As a result, regulators regard it as a half-baked security or a risk bomb, and trading is restricted.
Let's talk about the risks of the project itself. Pi's mobile phone mining sounds simple, but in fact its technical foundation, such as how everyone reaches a consensus and whether the network is safe, has not been tested by the market. The main network launch has been pushed again and again, and trust is almost worn out.
Moreover, Pi cannot be found on those big exchanges, and it is difficult to buy and sell. The price is easily manipulated by a few people. The risk is not ordinary, so some places simply do not allow trading.
Exchanges also have to act according to the regulators. In order to avoid trouble, exchanges in places with strict supervision will quickly remove Pi from the shelves or not allow it to enter, otherwise they will be sued. Besides, Pi is too speculative, and exchanges don’t want retail investors to rush in, so they also restrict trading.
This is not a good thing for ordinary users. In places where Pi is restricted, it is difficult for friends who have coins to legally exchange them for money. They can only take the risk of over-the-counter trading, and the money will be gone if they are not careful.
Moreover, if trading is restricted, information will not circulate. How do you know how much Pi is worth? You can only believe what you hear and are easily led by lies. If this continues, everyone will trust Pi less and less.
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