The government of Kenya has halted all operations associated with WorldCoin, the cryptocurrency project untill necessary measures are taken to mitigate risks.
Kithure Kindiki, the Interior Cabinet Secretary, highlighted that the delay will remain in effect until significant security, financail services and data security agencies implement the authenticity and legality of their operation.
However, Kindiki has instructed an investigation on the safety and protection of the data harvested, and how the harvesters intend to use the data. According to him, he warned that anybody found aiding or indulging in the operation will face penalties from the law.
“Further, it will be critical that assurances of public safety and the integrity of the financial transactions involving such a large number of citizens be satisfactorily provided upfront.”
Kenyans are signing up for Worldcoin, a cryptocurrency company owned by American AI that is registered by scanning an individual’s iris and giving them 25 free WLD tokens.
The tokens are currently valued at over Sh7,000. Thousands of Kenyans have flocked to the Kenyatta International Conference Center this week to sign up for the project, despite some of them admitting to not knowing anything about cryptocurrency.
