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Singapore is investigating unauthorized Worldcoin-related activities while the project faces global regulatory scrutiny over its data collection practices and potential misuse of user accounts.
Singapore is investigating seven "subjects" for offering services of buying or selling of Worldcoin accounts and tokens which is an offence, a written reply in parliament by the government revealed on Tuesday.
Singapore's Deputy Prime Minister Gan Kim Yong addressed concerns in Parliament regarding the risks of Worldcoin's operations in Singapore, including potential money laundering through the sale of accounts. He emphasized that although Worldcoin does not perform a payment service under current laws, buying or selling accounts may constitute a violation.
Singapore's Deputy Prime Minister and chair of the Monetary Authority of Singapore (MAS), Gan Kim Yong, announced an investigation into seven individuals on suspicions of illicit trade in Worldcoin accounts and tokens. The announcement came on September 9, stating that the individuals are suspected of buying and selling these accounts and tokens, actions that could
Worldcoin's woes continue to stack as Singapore authorities investigate the illegal transfer of accounts.
The Singapore police are investigating seven individuals trading Worldcoin accounts and tokens, noting that this may violate the Payments Services Act of 2019.
The Singapore Police have launched an investigation into a group that is allegedly trading Worldcoin (WLD) accounts and tokens. The crypto project Worldcoin has stirred global regulatory controversy due to its data collection practices.
Singapore's Deputy Prime Minister Gan Kim Yong announced that authorities are investigating seven individuals suspected of illegally buying and selling Worldcoin accounts and tokens, as per a statement on Sept. 9.
The probe, disclosed on September 9 by Gan Kim Yong, Singapore's Deputy Prime Minister and Chairman of the Monetary Authority of Singapore (MAS), targets unauthorized third-party sales of Worldcoin accounts and tokens. This investigation is focused on individuals involved in these illegal transactions.
While the crypto project itself is not involved in the trading of its users' data, others who engage in purchasing and reselling Worldcoin accounts and tokens may be illegally offering payment services under the PS Act, raising concerns about the potential misuse of digital identities for malicious purposes, such as money laundering.
Singapore investigates unauthorized Worldcoin account sales as regulators raise concerns over data misuse and criminal activity.
Singapore police are investigating seven individuals for trading Worldcoin account sales.
Singapore police have launched an investigation into seven individuals suspected of offering services to buy and sell Worldcoin accounts and tokens, Deputy Prime Minister Gan Kim Yong announced on Monday.
BeInCrypto comprehensive Latam Crypto Roundup brings Latin America's most important news and trends. With reporters in Brazil, Mexico, Argentina, and more, we cover the latest updates and insights from the region's crypto scene.
Alex Blania, CEO of Tools for Humanity, emphasized Worldcoin's commitment to scaling its iris-scanning technology at Korea Blockchain Week 2024 in Seoul.
Worldcoin aims on worldwide scaling using iris-scanning Orbs and new gadget updates. The initiative will launch a Layer-2 network and address regulatory issues.
The following article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.
The present goal of Worldcoin is the broad distribution of iris-scanning Orbs. Worldcoin has over 6.5 million confirmed World IDs in over 160 countries worldwide.
With the price of Bitcoin attempting to reclaim the $58K mark during the early Asian trading hours. Top altcoins have experienced a bullish recovery over the past few hours. Moreover, the Ethereum price has recorded a similar price action over the past day.
Speaking during Wednesday's Korea Blockchain Week 2024 event in Seoul, Tools for Humanity CEO Alex Blania said that Worldcoin's current focus remains the mass distribution of iris-scanning "Orbs" to expand the project and make it more useful.
Over the course of the past year, Worldcoin has faced intense scrutiny from regulators around the world. Many governments had issues with its model and sought to shut it down.
Worldcoin is preparing new updates on its next generation device that will be published in the coming ‘weeks,' Blania said.
A new whale is betting big on both Pepe and Worldcoin, signaling growing confidence in memecoins and AI tokens.
WLD, PEPE & FLOKI's rebound rally defies the odds of a historically tumultuous September.
