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Bybit Bans PI Trading Amid Regulatory Scrutiny

Coin WorldWednesday, Feb 12, 2025 7:53 am ET

1min read

Bybit Co-Founder Ben Zhou has announced that the platform will not list PI for trading, citing potential compliance issues. In a social media post, Zhou stated that Bybit will only observe PI from a distance, indicating a cautious approach to the cryptocurrency.

The decision comes as the PI Network continues to attract attention, with over 60 million users worldwide. However, the network's "braindead" electronic religion and unregulated nature have raised concerns among regulators and industry players.

Bybit's stance on PI is not an isolated incident. Other exchanges, such as Binance, have also faced regulatory scrutiny and insider stories related to their executives' arrests. The cryptocurrency industry is increasingly under the microscope, with regulators and law enforcement agencies taking a closer look at potential compliance issues.

The On-chain Detective continues to monitor the situation, keeping a close eye on developments in the cryptocurrency market. As the industry evolves, exchanges and investors alike must navigate the complex landscape of regulations and compliance issues.

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spanishdictlover

02/12

Bybit playing it safe with PI, smart move given the regulatory heat. Can't have exchanges going down due to compliance issues. 🚀

lookingforfinaltix

Holding some $TSLA and $AAPL, keeping it steady while the crypto storm brews. Diversification is key when the regulatory winds shift.

Bitter_Face8790

Diversify holdings, $AAPL can balance crypto volatility sometimes.

aiolyfe

@Bitter_Face8790 How long you been holding AAPL? Any specific strategy or target?

Regime_Change

PI Network's "braindead" vibes might attract rebels, but regulators aren't laughing. Exchanges need to adapt or risk getting burned.

big_nate410

PI Network's vibes off, compliance issues lurking nearby.

MirthandMystery

Regulators breathing down crypto necks. Long-term holders like me focus on $AAPL and strong fundamentals, not just hype coins.

themagicalpanda

Bybit playing it safe with PI, smart move given the regulatory heat. Can't have FOMO when compliance is on the line.

No-Explanation7351

@themagicalpanda Bybit playing it safe, no FOMO.

JoinMySpaceship

Regulators breathing down necks, crypto gotta adapt fast.

Silgro94

Bybit playing it safe, smart move in uncertain times.

deejayv2

@Silgro94 Smart move, agree.

Hoshigetsu

Binance in hot water again? Seems like every exchange is dodging regulatory bullets lately. Time to buckle up, crypto traders.

Ben280301

Bybit watching from afar? They're not missing out on PI action but avoiding potential landmines. Gotta respect the strategy.

GnosticSon

@Ben280301 Bybit playing it safe, smart move.

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