Pi Network (PI) has officially launched on OKX, recording notable volatility as investors rushed to cash in on the hype.

The move marks a significant milestone for the project, coinciding with its transition to the Open Network phase.

Pi Network (PI) Listed For Spot Trading

After actively pursuing exchange listings and securing commitments from several trading platforms, Pi Network’s PI token is finally live for spot trading on crypto exchanges, including OKX. An official announcement from the network on X (Twitter) revealed a floor price of $2 on OKX.

“Pi listed on OKX: 1 PI = 2$,” the network shared.

This listing is expected to increase liquidity and mainstream adoption of PI. Following its debut on the OKX exchange, PI experienced a dramatic price movement, dropping 21% after an initial 10% climb.

The extreme volatility has fueled debate over whether Pi Network is ready for open trading, as many of its users are newcomers to the crypto space.

Pi Network’s exchange debut coincides with its transition to the Open Network phase, a crucial step that aims to provide greater accessibility and utility for its ecosystem. Proponents argue that this transition will enhance PI’s legitimacy and long-term sustainability, making it more attractive for mainstream adoption.

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Coinbase outlined six key priorities to address flaws in US crypto regulation. Through its chief policy officer, Faryar Shirzad, the largest US-based exchange, urged Congress to act swiftly to provide clear and consistent rules for the industry.

It adds to Coinbase’s pro-crypto campaigns, which include fighting legal battles to expose regulatory misconduct and advocating for clear and consistent crypto banking rules.

Coinbase’s Legislative Priorities for Crypto Law Reform

Faryar Shirzad detailed these priorities in a blog post on Wednesday. The Coinbase executive emphasized the need for a balanced approach to innovation and consumer protection. The blog post warned that the lack of a clear legal framework leaves US innovation at risk and consumers vulnerable to fraud.

Based on this, Coinbase proposed clearly defining digital assets. Shirzad explained that this would enable Congress to distinguish between securities, commodities, and other digital tokens, ensuring investor protection and market integrity.

The renowned exchange also wants the Commodity Futures Trading Commission (CFTC) to be granted authority over crypto spot markets. Specifically, the CFTC, not the SEC (Securities and Exchange Commission), should regulate digital assets like Bitcoin and Ethereum. This aligns with the Trump administration’s reported policy shift amid calls to tap into the CFTC’s lighter regulatory touch.

Coinbase also calls for establishing clear capital-raising rules. The SEC should create transparent guidelines for blockchain fundraising without classifying every token as a security. It also wants stablecoin regulations implemented to ensure full backing of these assets and that they are subject to clear oversight for financial stability.

Another priority is protecting decentralized finance (DeFi) and digital commerce. According to Coinbase, this would ensure that DeFi platforms and non-fungible tokens (NFTs) remain free from excessive regulation. This, Shirzad says, would encourage innovation.

Lastly, Coinbase says clarity for centralized crypto entities is vital, allowing exchanges and custodians to follow clear federal or state-level guidelines for accountability.

Shirzad emphasized that the US risks falling behind in blockchain innovation without legislative action, pushing developers and businesses to move abroad. Inaction would leave consumers unprotected and hinder America’s leadership in the digital economy.

With these, Coinbase urges lawmakers to seize this opportunity to create a regulatory framework that balances innovation with consumer protection. These priorities align with the exchange’s predictions for 2025, when a favorable regulatory environment will drive market growth.

Coinbase has been at the forefront of legal battles against regulatory overreach. The company has taken on the FDIC (Federal Deposit Insurance Corporation), accusing it of withholding critical documents on crypto oversight.

Additionally, its Chief Legal Officer (CLO), Paul Grewal, recently testified before Congress on crypto debanking. Grewal reinforced the exchange’s commitment to fair regulatory practices. Meanwhile, the US-based exchange recently predicted a favorable regulatory environment would drive market growth.