This Country Suspends the Activities of the Controversial Altcoin!

The altcoin project, which has been at the center of discussions since the day it was released, is now being closed down in this country.
 This Country Suspends the Activities of the Controversial Altcoin!
READING NOW This Country Suspends the Activities of the Controversial Altcoin!

Kenya has accused Sam Altman’s Worldcoin of espionage as part of an investigation. Following this, the Kenyan government established a parliamentary committee to investigate the altcoin project. Following the studies, the committee recommended regulators to halt the project’s activities in the country.

Kenya is shutting down Sam Altman’s altcoin project!

Worldcoin continued to collect personal data of Kenyan residents in “complete disregard” of a cease-and-desist order issued in May, according to a report released by the Kenyan parliament on September 30. This even potentially includes information about minors. The committee recommended that Kenyan authorities “disable the virtual platforms” of Worldcoin. He also demanded that they investigate the companies for potential criminal charges. “Registration of Kenyans by the Worldcoin online App continues despite a complete halt by a court order and other administrative orders,” the report said.

Parliamentary report on Worldcoin’s activities in Kenya dated 27 September

The report raises privacy concerns for those living in Kenya. He notes that it is difficult or impossible to determine the number of devices in the country that the altcoin project uses to get users to send scans of their irises for verification.

Worldcoin scans increased after July launch

Worldcoin began data collection activities at shopping malls and learning institutions in Kenya in May 2021. The company has installed stations with Orbs in 30 locations in the country’s capital, Nairobi. As you follow from Kriptokoin.com, the irises were scanned with this method, as in many countries. It also helped users register on the Worldcoin app to get free tokens. It has been collecting data in the country for more than two years. Despite this, investigations into Worldcoin’s activities in the country only began after the public raised concerns following Worldcoin’s official launch in July, when it began scanning irises for identification.

Scans increased after launch. Additionally, the value of the crypto token increased as newly registered users received WLD tokens equivalent to Ksh 7000. Approximately 350,000 Kenyans have registered. However, later on August 2, the government stopped the activities of the altcoin project. Kenyans were concerned about what their data would be used for. Worldcoin said the data is stored securely on Amazon Web Services servers based in South Africa. A Kenyan user shared the following regarding the issue:

Apparently Worldcoin (WLD) went to Kenya and took people’s Biometrics through their Irises (eyes). Now this is doubtful. Why is Worldcoin taking people’s Biometrics? What do they need this for? Also why is the Kenyan government fighting them?

Kenya is considering regulations targeting altcoin projects

The Worldcoin issue has caused the country to consider regulatory reforms, particularly to better protect its citizens. MPs have called for legislative intervention to govern the collection of biological data from Kenyans “which has implications for privacy, security, health concerns and human rights”. These developments also made the controversial altcoin project a good target.

The Ad Hoc committee also recommended stricter rules for international businesses seeking to register as data controllers or processors in Kenya. Such companies will have to fully disclose the use and storage of sensitive and personal data collected and show evidence of registration with local regulatory bodies.

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