Pi Network Gains ESMA White Paper Registration, But Token Price Remains Muted as Full MiCA Authorization Awaits

The European Securities and Markets Authority (ESMA), the EU's financial markets regulator, has granted legal recognition to Pi Network by registering its WHITE paper. This marks a preliminary but critical step toward regulatory compliance, though full authorization under the Markets in Crypto-Assets (MiCA) framework remains pending, contingent on rigorous technical audits and financial assessments.

The registration enables Pi Network to formally pursue partnerships and operational activities within the European Union and European Economic Area. However, significant hurdles persist. The project must still demonstrate full adherence to stringent anti-money laundering (AML) standards, robust data protection protocols (GDPR), and transparent financial reporting requirements—a compliance process that has previously derailed other crypto ventures.

This development occurs amid intensifying regulatory scrutiny across the bloc, with reports indicating a notable portion of crypto firms operating without full licenses. The muted market reaction to Pi's regulatory nod suggests investors are adopting a cautious, wait-and-see approach, prioritizing concrete progress toward full MiCA authorization over preliminary milestones.