Pi Network’s Compliance Initiative Sets New Standard for Crypto Industry Collaboration
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Pi Network Pushes OKX and Other CEXs to Adopt Strict KYB Rules
In a groundbreaking move, Pi Network is setting a new standard in the cryptocurrency space by requiring Know-Your-Business (KYB) rules for all exchanges and businesses wishing to collaborate with it. This bold approach has already garnered the attention of major players like OKX, which has agreed to adhere to these stricter rules.
While other crypto projects focus on generating hype and attracting users, Pi Network is instead focusing on building trust by adhering to a strict compliance bar that extends beyond just checking user identities (KYC). By verifying the legitimacy and integrity of businesses, Pi Network aims to create a secure ecosystem for its users.
But what drives OKX and other exchanges like Bitget and MEXC to accept these stricter rules? The answer lies in Pi’s alignment with the Digital Currency Global Initiative, a joint effort by the International Telecommunication Union (ITU), a United Nations agency, and Stanford University’s Future of Digital Currency Initiative. This global initiative targets five key goals: financial inclusion, interoperability, identity verification, programmable money, and decentralized finance.
Pi Network’s unique approach ticks all these boxes, making it an outlier in the crypto space. By insisting on both KYC and KYB, Pi is setting a new standard for trustworthiness and transparency. This commitment to strict compliance has earned OKX, as well as other prominent exchanges, their seal of approval.
As Consensus 2025 approaches, speculation runs rampant about what Dr. Nicolas Kokkalis, the mastermind behind Pi Network, will unveil next. Will he reveal new investors or partners? Only time will tell.
What do you think about this development?
Source: https://coinpedia.org/news/pi-network-pushes-okx-and-other-cexs-to-adopt-strict-kyb-rules/
