Worldcoin_s Regulatory Hurdles in Kenya Intensify: Report

The Kenyan government has set up a parliamentary committee comprising 15 members to delve into the controversial crypto project – Worldcoin.

The latest development comes against the backdrop of mounting scrutiny across the globe as regulators express concerns about Worldcoin’s handling of personal information and biometric data.

• According to a report from a local daily, ‘The Star,’ the 15-member team will be chaired by Narok West MP Gabriel Tongoyo.
• The committee will have 42 days to investigate the project and submit its report their findings to the House.
• Worldcoin launched its native token, WLD, in July, which prompted significant backlash from the privacy advocates of the crypto community. Many compared the project to a “digital dictatorship.”
• Less than two weeks after the launch, Kenya became the first country to suspend Worldcoin operations as well as the distribution of WLD over the methodology employed for data collection.
• Police even raided Worldcoin’s warehouse in Nairobi, Kenya, shortly thereafter.
• The Kenyan Capital Markets Authority has also voiced concerns about registration activities and cautioned the residents that Worldcoin is not regulated in the country.
• Although Worldcoin maintained that it adheres to Kenyan regulations, Interior Cabinet Secretary Kithure Kindiki informed Parliament that the project does not hold registration as a legal entity.
• So far, Argentina, France, Germany, and the UK have all initiated investigations into the crypto project to ensure that no data regulations are being breached.