Is Pi an actual currency?

Could you elaborate on the status of Pi as a currency? Is it recognized and widely accepted as a legitimate form of payment? Are there any regulations or legal frameworks in place that support its use as a currency? Additionally, how does it compare to other well-established cryptocurrencies like Bitcoin or Ethereum in terms of adoption, market capitalization, and security? I'm particularly interested in understanding whether Pi has the potential to become a mainstream currency in the future.