Worldcoin Reaches Agreement with Kenyan Authorities
Worldcoin, the iris biometric crypto project, has reportedly reached an agreement with Kenyan authorities that allows it to resume operations in the country. According to unnamed sources, Worldcoin representatives are working directly with regulators to meet Kenya’s requirements, and operations are expected to restart in early 2024.
Previous Suspension of Activities
In recent months, the Kenyan government suspended Worldcoin’s distribution of WLD tokens due to a lack of necessary licenses. This move prompted Worldcoin representatives to engage with Kenyan regulators and address their concerns.
Worldcoin’s Efforts to Meet Regulatory Requirements
Worldcoin has been actively working with Kenyan authorities to address their concerns and satisfy regulatory requirements. The company aims to comply with new data regulations that are being considered by the Kenyan parliament.
Timeline for Resuming Operations
While the exact timeline for resuming operations is not disclosed, sources indicate that Worldcoin is likely to restart its activities in early 2024. The project’s stipends will remain and expand to various locations across the country.
Hot Take: Worldcoin Set to Resume Iris Scanning in Kenya
Worldcoin’s agreement with Kenyan authorities marks a significant development for the iris biometric crypto project. By meeting the country’s regulatory requirements, Worldcoin can resume its operations and distribute WLD tokens to users who agree to have their eyeballs scanned. This decision showcases the willingness of both Worldcoin and Kenyan regulators to work together and find a mutually beneficial solution. With a focused effort to comply with data regulations, Worldcoin aims to continue expanding its presence in Kenya and potentially serve as a model for other countries looking to integrate biometric cryptocurrency technology.
By
By
By
By
By