The post Pi Coin See Growing Acceptance For PI Payments – But Can It Beat Regulatory Hurdles? appeared first on Coinpedia Fintech News
Tap-to-Earn” Pi Network’s native token, Pi Coin, is gaining attention again as more businesses in the U.S., China, Vietnam, South Korea, Thailand, and India have begun to accept it for payments. People are now using Pi Coin to buy things like cars, coffee, and many more.
However, while its use is growing, some authorities have warned that using Pi Coin for payments may not be legal.
Pi Payments Gaining Global Acceptance
After years of waiting, Pi Network launched its Open Mainnet on February 20th. Known for its easy “tap-to-earn” mining, Pi has already won over 50 million users and crossed 100 million downloads of its Pi Browser. Now, its focus is shifting toward real-world payments.
One of the most recent examples of Pi adoption comes from the U.S., where Cube Motors, a well-known Florida car dealership, has partnered with Pi Coin. Now, they’re accepting Pi Coin as payment for vehicles.
Similarly, Pi Coin is also making waves in real estate. Zito Realty, a top real estate company, has teamed up with Pi Coin, allowing it to be used for property payments.
Meanwhile, in China, the adoption of Pi Coin is gaining traction, particularly in the automotive sector. BYD Auto Service Co., Ltd., based in Changsha, is now selling cars entirely through Pi payments.
Buyers are using Pi at a fixed Global Consensus Value (GCV), showing the coin’s growing real-world use.
Rising Regulatory Challenges For Pi Coin
Despite Pi Coin’s growing use cases, some countries have raised concerns. Officials in China, Vietnam, and Thailand have warned that using Pi for payments may not be allowed. Vietnam’s police even warned people about possible risks because of the country’s rules on digital money.
In South Korea, crypto is not yet officially accepted for payments, making Pi transactions uncertain. But despite these issues, more businesses are starting to accept Pi, showing that many people still believe in it as a new way to pay.
Pi Coin’s Price Swings
In the last 24 hours, Pi token price has seen a surge of 4%, currently trading at $1.76. However, listings on major exchanges like OKX, Bitget, and MEXC have helped it stay 14% higher over the past week.
As of now, the price is still under pressure, and if selling pressure continues, Pi Coin could fall to $1.49 or even $0.70. But if more buyers step in and adoption keeps growing, the price could bounce back to $2.5.