🚨 Singapore police investigate Worldcoin accounts and token transactions 🚨

Singapore Deputy Prime Minister and Finance Minister Gan Kim Yong revealed in a written reply in Parliament that the police are investigating seven individuals suspected of providing Worldcoin accounts and token trading services. These actions may violate the Payment Services Act 2019. Five people have been arrested by the police. Preliminary investigations show that three suspects are suspected of recruiting people to create Worldcoin accounts and exchange cash for control, while the other two suspects are involved in the purchase and transfer management of assets. The police seized more than 200 mobile phones as evidence during the operation.

Although the Monetary Authority of Singapore believes that Worldcoin itself does not belong to the payment service under the Payment Services Act, trading its accounts and tokens may constitute payment services. 🌐

The Bitcoin market remains optimistic and looks forward to more positive developments! 🚀