My friend, the news you are seeing spread now (about an American court ruling that the 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 subsidiary Pi Community Company.
Founders Nicolas Kokkalis and Chengdiao Fan.
The lawsuit was valued at a claim of up to 10 million dollars, and accused Pi Network of: fraud.
Selling Pi tokens as unregistered securities (i.e., 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 stated that he lost over 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: Pi token is not a security according to U.S. federal law.
The main reason: the plaintiff did not invest "real" money, he only contributed his time and data (free mining through the app), so the condition of "investment of money" in the Howey test (which defines what a security is) was not met.
These claims are baseless and have been rejected entirely (without leave to amend in some important points like violating securities laws and retaliation against whistleblowers).
This is a significant legal victory for Pi Network, as it reduces regulatory pressure and clarifies that the utility token is more than an investment contract. However, the court allowed the plaintiff to amend 4 out of 7 claims if stronger details are provided before February 5, 2026 (meaning the case is not 100% finished, but the most important part regarding "securities" has concluded in favor of Pi).
In summary: the news is not false, and indeed a very positive ruling for the Pi Network in this case has occurred, and it is considered an important step towards legal stability, especially after there were many doubts about the legal status of Pi. 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.
