#PI Pi Network officially applies to join the EU MiCA, Pi coin is expected to be widely adopted in the European market.

According to CoinGape, Pi Network has officially applied to join the EU's regulation of crypto assets market (MiCA), which may be an important step for Pi coin to enter a broader market. The project has confirmed that it has submitted an application in accordance with the EU MiCA framework. This gives Pi coin the potential to obtain full legal status in the European market. Previously, due to strict compliance requirements, Pi coin has been difficult to use on the European continent. Earlier, Valour Pi ETP launched in August on the Swedish Spotlight stock market. This is the region's first regulated investment vehicle related to Pi coin. The product provides regulated investment channels for European brokerage clients. The ETP is traded in Swedish Krona and charges a management fee of 1.9%. This also provides investors with a way to participate in its future profits without directly holding Pi coin. Community member Dr. Altcoin expressed excitement about this development. He also highlighted the energy efficiency outlined in the MiCA White Paper. Pi's annual energy consumption is about 0.0024 terawatt-hours, while Bitcoin's annual energy consumption is 185 terawatt-hours. This means energy consumption has dropped by 99.9%. This positions Pi Network as one of the most environmentally sustainable blockchains. The network's low resource consumption model aligns closely with the decarbonization goals set by the United Nations. Prior to submitting the application to MiCA, the project collaborated with Maetzler Rechtsanwalts law firm in Austria and Prighter Ltd law firm in the UK. Meanwhile, SocialChain has completed GDPR verification. They ensure that the processing of user data complies with the EU's strict privacy protection requirements. Pi#Pi