Singapore Investigates Worldcoin for Money Laundering and Terrorist Financing

🔍 Singapore has launched an investigation into Worldcoin, a cryptocurrency project that collects personal data, for possible money laundering and terrorist financing.

- Singapore Deputy Prime Minister Gan Kim Yong has announced an investigation into seven individuals offering unlicensed services to sell Worldcoin accounts and tokens.

- These activities may violate the Payment Services Act 2019.

- The sale of Worldcoin accounts and tokens may be used for criminal activities.

Global attention on Worldcoin

- In 2023, regulators in India, South Korea, Kenya, Germany, and Brazil suspended Worldcoin’s biometric data collection.

- In Europe, GDPR compliance concerns have also been raised.

Be careful when selling accounts

- Singapore police warn against selling Worldcoin accounts.

- Gan Kim Yong stressed the importance of data protection standards to prevent crimes.

Be vigilant and careful with cryptocurrency projects!