Pi Network completed mainnet upgrade to Protocol 20 on March 18, providing smart contract execution environment to support upcoming NFT and escrow features. Smart contracts will be rolled out in phases, with the first phase being subscription contracts, followed by escrow contracts and NFT tools. Each step requires security audits and community verification to ensure safety and stability.
Vietnam currently has five companies competing for the first batch of compliant cryptocurrency exchange licenses, including major banks and large enterprises. Regulators plan to ban citizens from using overseas exchanges and are beginning to draft taxation schemes that treat crypto trading as formally regulated assets. Vietnam is concerned about capital outflows, with crypto startups unable to meet standards being excluded, while regulators favor traditional financial institutions.