Pi Network Price Today May 24, 2025: Pi Network is too dependent on Vietnam
Pi Network price today 5/24/2025 decreased by 6.3% compared to yesterday, currently at 0.7633 USD. Pi Network is too dependent on Vietnam, with a high possibility of legal risks and loss of control.
Pi Network Price Today May 24, 2025
Pi price on OKX exchange on May 24, 2025 is fluctuating around the price from 0.741 USD to 0.8279 USD (equivalent to 19,230 VND to 21,510 VND). Thus, at the time of writing, Pi price on OKX exchange decreased by 6.3% compared to yesterday, reaching 19,900 VND
In Pi Network community groups, many members continuously share images of successful profit closing, showing that buying and selling activities are taking place vigorously.
Some people even jokingly said that thanks to investing in Pi, they had to “learn to bear the profits” instead of getting used to bearing the losses like before. These stories are attracting strong interest, especially from those new to the cryptocurrency market.
Pi Network is too dependent on Vietnam, there is a high possibility of legal risks
However, Pi Network is also facing many concerns about stability and decentralization. Currently, nearly half of the nodes in the entire system are located in Vietnam, making the network too dependent on a single country.
At the same time, the legal landscape in Vietnam is increasingly tightening for cryptocurrencies like Pi Coin.
According to data from PiScan, Vietnam owns 154 out of 319 global Pi Network nodes, equivalent to 48.2%. Of the 76 active nodes at the time of update, 33 are from Vietnam. This raises concerns that users in one country can control the majority of network operations.
Additionally, Pi Network currently has only two validator nodes, both of which are managed by the development team. This raises doubts about the transparency and true decentralization of the project. The community is increasingly concerned that the majority of Pi Coins are also held by the development team.
The situation is further complicated by the fact that the legal framework in Vietnam does not recognize cryptocurrencies as a legal means of payment. According to regulations, using Pi Coin for transactions can be fined from 50 to 100 million VND, and can even be prosecuted.
Not only that, the Vietnamese government has warned about the potential risks of Pi Network and opened an investigation in 2023 due to doubts about the transparency of the operating model.
Recently, the Ministry of Finance also proposed to tighten management by requiring cryptocurrency custody organizations to be licensed. If this regulation is applied, Pi mining activities in Vietnam may be severely affected, leading to instability for the entire network.
