Kenya says 'hold up' to Worldcoin’s operations.
They've got some concerns about financial security and privacy.
Want to know what's really going on? Let's dive in:
THREAD 🧵
Kenya's Ministry of the Interior is the first to suspend Worldcoin's operations.
They're worried about the project's legitimacy and how it handles data.
Now, they're investigating.
Worldcoin's mission is bold: a global ID system using iris scans. With AI's growing role in our lives, this could be a game-changer. But, their methods of data collection has raised eyebrows. #Worldcoin
In particular, Worldcoin's tactics in developing countries have drawn criticism. Some are even calling it exploitation. European regulators are already on it, but Kenya's taking a firmer stand.
Despite the suspension, the $WLD tokens given to participants who've had iris scans have seen a 4.8% rise, trading at $2.41 on crypto exchanges.
Talk about a plot twist!
Kenya's Capital Markets Authority (CMA) has also chimed in.
They've clarified that they don't currently oversee Worldcoin or its tokens and have warned about potential scams in the crypto market.
But, they're not shutting the door on Worldcoin.
The CMA has expressed willingness to work with the project through its regulatory sandbox.
Stay tuned for more updates on the #Worldcoin saga.
Let's see how this one unfolds. 🚀
