Worldcoin has suspended its services in Kenya and plans to cooperate with regulatory agencies.

Worldcoin suspends services in Kenya, plans regulatory cooperation.

Author: Ryan Weeks, THE BLOCK; Translation: Song Xue, LianGuai

The Worldcoin Foundation stated in a statement that the service has been suspended “out of caution and efforts to reduce the number of people.”

The Kenyan Ministry of Interior stated in a statement yesterday that Worldcoin’s activities in the country have been suspended until the risks associated with the project can be assessed.

Worldcoin, an identity-centric cryptocurrency project co-founded by Sam Altman, has confirmed that the company has temporarily suspended its services in Kenya after receiving a suspension notice yesterday.

• Australian ASIC sues eToro over contract for difference products.
• Curve is deeply involved in a security incident, how to establish a defense mechanism to prevent hackers and trace funds?
• Data Interpretation Holders reluctant to sell, Starbucks NFT series profitable across the board.

Kenya has been a key market for the project, which uses spherical devices to scan people’s irises to help prove their uniqueness online and offer a new cryptocurrency, WLD, as an incentive.

A spokesperson for the Worldcoin Foundation stated that the demand for their verification services in Kenya is “overwhelming,” with tens of thousands of people queuing for World IDs within two days.

They stated, “Out of caution and to reduce the number of people, the verification service has been suspended.” “During the suspension period, the team will develop an onboarding plan that includes stronger crowd control measures and collaborate with local officials to deepen understanding of the privacy measures and commitments implemented by Worldcoin, not only in Kenya but around the world.”

Previous reports indicated that as of December 2022, there were over 250,000 registered Worldcoin users in Nairobi. Recent reports in local media have shown that authorities have dispersed thousands of people queuing at the Kenyatta International Convention Centre in Nairobi.

A spokesperson for Worldcoin stated that Worldcoin will work with regulatory authorities and other stakeholders to restore its services in Kenya.

Token Launch and Global Scrutiny

Worldcoin’s token, WLD, was launched last week. At the time, the project had over 2 million registrations, with the majority from countries in the southern hemisphere. According to CoinGecko, the current trading price of the WLD token is $2.34.

The project has attracted the interest not only of Kenyan authorities. The Bavarian State Data Protection Supervisory Authority has been investigating Worldcoin since last year, concerned about the possible use of sensitive data.

According to an insider, in Kenya, Worldcoin has established partnerships with the Nairobi City County and is a member of the Kenya Blockchain Association, the Kenya American Chamber of Commerce, and SafariDAO.

There seems to be some controversy over Worldcoin’s status among Kenyan politicians. On August 2, the same day the suspension notice was issued, Eliud Owlao, Secretary of the Cabinet for Information, Communication, Technology, and Digital Economy, stated that Worldcoin has been operating legally in the country and had previously sought permission.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!