What is Pi Coin?
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Pi Coin is mined through phones and used for easy digital transactions and smart contracts. Since its Open Mainnet launch in February, Pi Coin has not been officially available in India.
It is traded on many platforms like OKX, MEXC, and many more. Informal trading exists peer-to-peer, but always be careful. -
@Faraz said in What is Pi Coin?:
What specific regulatory or technical obstacles are preventing its official launch in the Indian market, and how does this unofficial trading activity impact the legal and financial security of Indian users?
The regulations surrounding cryptocurrency in India can be quite intricate. The RBI is being cautious because they're concerned about financial stability, consumer safety, and the prevention of illegal activities.
Uncertainty can confuse people, and with trading being poorly regulated, users face risks such as scams, fraud, and lack of legal protection. Therefore, it's crucial for everyone to be vigilant and stay informed.
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@Faraz You're completely correct. In India, simply telling people to "be careful" isn't enough. We need clear rules, swift action against scammers, and straightforward education in local languages so that everyone understands the risks. When people are aware of the red flags to look for, scammers lose their power.
Stronger regulations foster a secure environment for legitimate businesses to thrive. Combining education with robust rules builds real trust, making the entire financial system much safer and better for every investor.