Kenya: Govt Suspends World Coin Activities in Kenya

Pixabay
(file photo).
2 August 2023
Capital FM (Nairobi)

Nairobi — The government has suspended all activities associated with the cryptocurrency project WorldCoin in Kenya until risks to the public are assessed.

According to Interior Cabinet Secretary Kithure Kindiki, the suspension will remain in effect until relevant security, financial services and data protection agencies establish the authenticity and legality of their activities.

The CS has ordered a probe on the safety and protection of the data being harvested, and how the harvesters intend to use the data.

"Relevant security, financial services and data protection agencies have commenced inquiries and investigations to establish the authenticity and legality of the aforesaid activities, the safety and protection of the data being harvested, and how the harvesters intend to use the data," he stated.

Kindiki added that anybody found further aiding or engaging in the activities will be dealt with as prescribed by law.

Worldcoin, owned by American Artificial Intelligence is registered by having an individual scan their iris and they receive 25 free WLD. The tokens are currently valued at over 7,000 Shillings.

Thousands of Kenyans have this week flocked Kenyatta International Conference Center to sign up for the project, despite some admittedly not knowing what cryptocurrency is all about.

Read the original article on Capital FM.

Tagged:
Copyright © 2023 Capital FM. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.