Pi Network has been deemed "worthless" by seven major Chinese associations!Seven major financial institutions—the National Internet Finance Association of China, the China Banking Association, the China Securities Association, the Asset Management Association of China, the China Futures Association, the China Association for Public Companies, and the Payment & Clearing Association of China—have jointly issued a warning, explicitly classifying Pi Network's Pi coin as a "worthless virtual asset." The statement says that criminals use the guise of Pi coins, stablecoins, and "mining" to conduct illegal fundraising and pyramid schemes, and transfer illicit profits through virtual assets.
MarketWhisper·17h ago