Worldcoin, the crypto project started by Sam Altman, has been receiving increased scrutiny from global regulators, particularly in Singapore.
Singapore's authorities have been investigating potential illegal Worldcoin account trading and token sales, and they are also concerned about potential violations related to biometric data privacy. Similar regulatory issues are arising in places like Hong Kong, Spain, and Portugal, where Worldcoin's operations related to its eye-scanning technology have been questioned or even ordered to cease. At the same time, Worldcoin is still pushing forward with its innovative plans, eyeing potential partnerships with
PayPal and
OpenAI, and even announcing the development of its own blockchain. Moreover, the project is continuing its operation in Kenya after its local police decided to drop the investigation, despite the previously suspending its services there for a year. However, the recent controversies seem to be affecting Worldcoin's market performance. While the company has managed to secure new funding and extend its lockup period, sparking a notable rise in its token price, Worldcoin also faced accusations of being a 'scam' and failing to meet its ambitious user growth targets. Addressing security and privacy concerns, the cryptocurrency firm has even gathered some former executives from tech giants like Google, Apple, X, and Meta to enhance its privacy and security policies.
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