Pi Network Faces a Major Challenge as Almost Half of Its Total Nodes Are Concentrated in Vietnam

Pi Network is facing a major challenge as almost half of its total nodes are concentrated in Vietnam.

Almost half of Pi Network's total nodes are located in Vietnam, according to recent data.

What is known about crypto regulations in Vietnam?

Pi Network is facing a major challenge as almost half of its total nodes are concentrated in Vietnam, according to recent data from PiScan.

Out of 319 nodes detected worldwide, 154 are located in Vietnam, which accounts for 48.2% of the total.

Currently, 33 out of 76 connected nodes are in Vietnam, showcasing the country's dominance in the network.

However, this geographic concentration raises additional concerns about the fairness and decentralization of the network, as users from one country may have disproportionate control over network activity.

Vietnam's legal framework adds another layer of complexity.

According to Vietnamese law, virtual currencies, such as Pi Coin (PI), are not considered legal tender instruments.

If used for payment purposes, they are classified as goods and services in Article 16 of Decree No. 06/2023/ND-CP, which dictates the applicable tax laws.

Moreover, authorities can impose administrative sanctions, including fines of up to $125, on individuals who use Pi Coin for payments, as stated in Article 49 of the same decree.

Vietnam's cautious approach is evident in the legal warnings issued about the potential risks of Pi Network.

In 2023, Vietnamese authorities also initiated an investigation into Pi Network, focusing on its business model and activities within the country.

Recently, Vietnam’s Ministry of Finance proposed new regulations that aim to limit the storage of cryptocurrencies to institutions licensed by the State Bank of Vietnam.

This policy, still under consideration, could affect the operations of local miners who typically store cryptocurrencies in their own hardware wallets for mining purposes, potentially disrupting the infrastructure of networks like Pi Network.

The proposed regulation highlights the broader goal of stricter control over cryptocurrency activities in Vietnam to ensure greater transparency, security, and compliance with local laws.

What is known about the token distribution and trust issues?

As reported by CoinTelegraph, data from PiScan revealed that the Pi Foundation wallet holds a staggering balance of 60.7 billion Pi out of a total 100 billion supply.

This level of centralization in the foundation’s account diminishes the principles of trust and decentralized distribution that are typically associated with cryptocurrencies.

Furthermore, issues of trust have arisen with reports of domestic sales by the team, as claimed by one Pioneer on the BeInCrypto website.

This structure is less familiar in the Web3 space, where projects are frequently funded through initial exchange offerings (IEOs) or seed rounds with venture capitalists.

For a project like Pi Network, which markets itself as a decentralized, user-driven ecosystem, addressing these structural vulnerabilities will be critical to maintaining credibility and ensuring long-term stability.

With increasing scrutiny from authorities and users alike, Pi Network faces a crucial turning point in determining its future role in the evolving landscape of cryptocurrencies.

What is known about the price movement of Pi Network today, May 23, 2025?

The price of Pi Network (PI) is down by 3.8% in the last 24 hours, with the latest price at $0.8175 per PI at 02:36 (GMT+7).

If converted to the current rupiah rate of $1 = IDR 16,299, then 1 Pi Network is valued at IDR 13,324.

The price of PI is currently in the range of $0.8113 to $0.8503, showing significant fluctuations in day trading.

If looking at the broader picture, the price of PI has moved up by 12.7% from the lowest price in the last 30 days.

The price is also down by 10.0% from the highest price in the last 30 days.

If compared to last year's price, the price of PI has soared by 1,006.0%.

At the time of writing, the crypto has a market capitalization of around $5.9 billion, while the 24-hour trading volume is over $252 million.

The post Almost Half of Pi Network Nodes Are in Vietnam, What About the Payer?s Shot? appeared first on Pintu News.

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