Five Ask Pi Network project team what are you doing? Do P still need Pioneer and community? The liar is caring. and the pioneer is losing. To directly attack the implementation of Hong Kong's stable currency policy. ordinary people must know the polic

Pi Network project parties will answer the following questions? 1. Is Pi Network's business completely transparent? 2.What are the 100 applications that Pi Network promises? 3. When will Pi Network have a second migration? 4. When will the pioneers receive KYC 9 green mapping coins? 5. Various scammers are deceiving Pi's pioneers, why do you turn a blind eye? How did V God build the Ethereum community with the community back then, and what are you doing in Nicholas? All of them have done KYC to help the Pi Network community grow. But Nicholas ignored everything and didn't even care about community development or answered some questions from community pioneers. The pioneers are losing hope and are even too lazy to dig out these days. The trust, hype and hope that Nicholas once established in the hearts of the pioneers is slowly fading. Now Pi Network project parties should at least meet with the community and show some transparency, instead of hiding all the time, so that the scammers on the market can deceive in the name of Pi, deceive those pioneers who have faith in Pi, respect these pioneers, and make scammers have nowhere to cheat, otherwise Nicholas and Pi's project parties are doing evil, and Nicholas and Pi's projects are also a bunch of scammers! Progress in Hong Kong's stablecoin regulation 1. The regulatory system officially comes into effect The "Stablecoin Ordinance" will officially come into effect on August 1, 2025. The HKMA will simultaneously publish four relevant documents (only available in English): · Consultation summary and formal guidance for the "Guidelines for Supervision of Licensed Stablecoin Issuers" · Consultation summary and formal guidance for the "Guidelines for Combat Laundering and Terrorist Funding (Applicable to Licensed Stablecoin Issuers) · Consultation summary and formal guidance for the "Guidelines for the Licensed Stablecoin Issuers" · Summary of the "Stablecoin Issuers" · Summary of the "Stablecoin Issuers" · Summary of the "Stablecoin Issuers Transitional Provisions" 2. Licensing Process and Requirements The HKMA will accept the first round of applications for stablecoin Issuers' licenses from August 1 to September 30, 2025. Interested applicants are encouraged to actively contact the HKMA through the official email before August 31 to communicate regulatory expectations and feedback. The HKMA reminds market participants: public communication should be cautious and not falsely claim to have been licensed or applied for, otherwise it will be illegal. 3. Application conditions and compliance requirements require that all Hong Kong compliant stablecoin holders have verified the identity of them, which is like a real-name system. Chen Jinghong, assistant president of the HKMA (regulation and combating money laundering), said that this regulation is stricter than the previous "whitelist" system; if the technology is mature in the future, there will be opportunities to relax. Legislative Council member Wu Jiezhuang added: The HKMA will indeed implement KYC, and real name is one of the possible ways. The specific plan is proposed by the issuer and confirmed after review by the HKMA. 4. The attitude of the HKMA to the fiat currency-linked currencies. Chen Weimin, Vice President of the HKMA, said: · You can apply for a stablecoin license that is pegged to a single fiat currency, · You can also apply for a stablecoin license that is pegged to a package of fiat currency, · However, the currency must be clearly stated when applying. Chen Weimin also emphasized: The threshold for issuing licenses is very high, and the first license is expected to be issued early next year. 5. Transition period arrangement and classification processing After the implementation of the Stablecoin Ordinance, a 6-month transition period will be established. The HKMA will classify existing issuing institutions: · Those who meet regulatory requirements: They can obtain temporary licenses; · Those who fail to meet the standards within 3 months: Business must be terminated within 4 months; · Those who fail to meet the standards: Operations must be terminated within 1 month after receiving the notice. Requirements include: full reserve, redemption processing within 1 day, setting up entities in Hong Kong, maintaining financial resources, KYC, transaction monitoring, etc. Violators will face penalties such as fines, suspension or revocation of their licenses.