Kenya has suspended the activities of Worldcoin, a new cryptocurrency, after nearly half a million individuals signed up for the platform. The Ministry of Interior raised security concerns and halted Worldcoin operations, including registration. Registered users were entitled to 25 free Worldcoin tokens worth around $2 each. The Capital Markets Authority (CMA) in Nairobi also warned against the ongoing registration, stating that Worldcoin and its products are not regulated under the Capital Markets Act. France’s privacy watchdog is also investigating Worldcoin’s data collection practices.

Summary

Kenya has suspended the activities of Worldcoin, a new cryptocurrency, due to security concerns. The registration exercise for Worldcoin saw nearly half a million individuals sign up, with registered users receiving 25 free tokens. The Ministry of Interior and the Capital Markets Authority (CMA) raised concerns about the platform’s security and regulation. France’s privacy watchdog is also investigating Worldcoin’s data collection practices.

FAQs

What is Worldcoin?

Worldcoin is a new cryptocurrency platform that launched on July 24. It aims to provide users with a secure and private digital currency.

Why has Kenya suspended Worldcoin operations?

The Ministry of Interior in Kenya has suspended Worldcoin operations due to security concerns. They are investigating the authenticity and legality of the platform’s activities.

What was the registration process for Worldcoin in Kenya?

The registration process for Worldcoin took place at the Kenyatta International Convention Centre. Registered users were entitled to 25 free Worldcoin tokens worth about $2.

What is the Capital Markets Authority (CMA) warning about?

The CMA in Nairobi has warned against the ongoing registration for Worldcoin. They stated that Worldcoin and its products are not regulated under the Capital Markets Act.

Has France also raised concerns about Worldcoin?

Yes, France’s privacy watchdog is currently investigating Worldcoin’s data collection practices.