My friend, the news you see spreading now (about a U.S. court ruling that Pi currency is not a security and rejecting the main claims in the "Moen" case) is true and was actually issued in January 2026. The story of the news in detail: In October 2025, an American investor named Harro Moen (from Arizona) filed a lawsuit in the federal court for the Northern District of California against: SocialChain (the parent company of Pi Network).
The affiliated company Pi Community Company.
The founders Nicolas Kokkalis and Chengdiao Fan.
The lawsuit had a claim value of up to 10 million dollars, accusing Pi Network of: fraud.
Selling Pi tokens as unregistered securities (any violation of U.S. securities laws).
Theft or unauthorized transfer of tokens from his wallet.
Delay in transferring its tokens to the Mainnet, central control, and secret sale of billions of Pi.
The plaintiff said he lost more than 2 million dollars because of all this. The ruling issued (January 2026): the court rejected most of the main claims (especially those related to Pi being a security) and stated: the Pi token is not a security under U.S. federal law.
The main reason: the plaintiff did not invest real "money"; he only contributed his time and data (free mining via the app), so the condition of "investment of money" was not met in the Howey test (which determines what a security is).
These claims are unfounded and have been definitively rejected (without leave to amend in some important points like violations of securities laws and retaliation against whistleblowers).
This is a significant legal victory for the Pi Network, as it reduces regulatory pressure and clarifies that the token is more of a utility token than an investment contract. But: the court allowed the plaintiff to amend 4 of the 7 claims if he provides stronger details before February 5, 2026 (meaning the case is not 100% over, but the most important part about "securities" ended in favor of Pi).
In summary: the news is not a lie, and there was indeed a very positive ruling for the Pi Network in this case, which is considered an important step towards legal stability, especially after there were many doubts about Pi's legal status. The main sources of this news are sites like HOKANEWS (which covered the case in detail), and posts on X, Facebook, and YouTube confirming the same information.
