Odaily Planet Daily News: Singapore Deputy Prime Minister and Finance Minister Gan Kim Yong disclosed in a written reply in Parliament that the Singapore police are investigating seven individuals suspected of providing Worldcoin accounts and token trading services. The case involves possible violations of the Payment Services Act 2019, and five people have been arrested by the police. Preliminary investigations showed that three suspects were suspected of recruiting people on behalf of multiple entities to create Worldcoin accounts and exchange cash for control of these accounts and tokens. The other two suspects were involved in the purchase and transfer management of related assets. The police seized more than 200 mobile phones as evidence during the operation. Gan Kim Yong emphasized that the Monetary Authority of Singapore believes that Worldcoin itself does not constitute a payment service under the Payment Services Act, but trading its accounts and tokens may constitute a payment service. (CryptoNews)