• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Thursday, July 10, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Crypto

Worldcoin shuts down in Kenya after controversies and scrutiny

by Reshab Agarwal
October 3, 2023
in Crypto, News, Trending
Reading Time: 3 mins read
0
Worldcoin adoption on the rise with new verifications every 8 seconds
TwitterWhatsappLinkedin

In a recent turn of events, Worldcoin, a cryptocurrency that promised to revolutionize global payments, has found itself entangled in a web of controversy as Kenya moves to shut down its operations within the country. As Worldcoin shuts down in Kenya it raises significant questions about the future of cryptocurrencies, not only in Kenya but on a global scale. Is this the end of Worldcoin, or just another chapter in the ever-evolving saga of cryptocurrency’s wild ride?

You might also like

Trump Unleashes New Tariffs, Sri Lanka Among Seven Nations Facing 30% US Duties

Starlink Clears Final Regulatory Hurdle, Poised for Launch in India

Nvidia Shatters Records with $4 Trillion Market Value Amidst AI Supremacy

Worldcoin, a cryptocurrency initiative co-founded by Sam Altman, the CEO of OpenAI, has drawn significant attention in multiple nations, such as the United Kingdom, Germany, and France. Spearheaded by Tools for Humanity, this project offers users a novel “identity and financial network,” but it has encountered controversy and intense scrutiny due to its approach to gathering user data, notably the scanning of individuals’ irises.

The Controversial Presence of Worldcoin in Kenya

In a recent development, an ad hoc committee comprising 18 Kenyan lawmakers has issued a strong recommendation to the country’s IT regulatory body, the Communications Authority of Kenya, to immediately cease Worldcoin’s operations. This decision follows the government’s initial suspension of the project in early August due to concerns regarding user privacy.

Despite the suspension, Worldcoin has managed to maintain a virtual presence within the nation, accessible to its residents via the Internet. The parliamentary committee’s report has brought to light significant privacy issues, with a particular focus on the absence of adequate age-verification measures, which may have resulted in the scanning of minors’ irises.

The approach adopted by Worldcoin to obtain user consent, which involved offering a monetary reward slightly exceeding $50, raised concerns among authorities, who perceived it as potentially bordering on inducement. Additionally, the data collection initiative in August witnessed long queues of individuals eagerly waiting to have their irises scanned

Kenyan Lawmakers Advocate for Drastic Measures Against Worldcoin

The committee’s firm proposal to the Communications Authority of Kenya extends beyond merely discontinuing Worldcoin’s activities. They have advocated for the “disabling of the virtual platforms operated by Tools for Humanity Corp and Tools for Humanity GmbH Germany (Worldcoin)” and even the blacklisting of associated IP addresses.

In essence, this action would sever Worldcoin’s accessibility to Kenyan residents until comprehensive legal frameworks for virtual assets and service providers are established. In response to the committee’s report, Worldcoin’s press office stated that they had not received any official notification from the Committee. Nevertheless, it is anticipated that the report will be presented at the National Assembly for additional review and potential consideration.

The Path Forward for Cryptocurrency Regulations in Kenya

Kenya’s engagement with Worldcoin underscores the broader difficulties that numerous nations confront in light of the swift evolution of cryptocurrencies.

Recognizing the increasing significance of digital assets, the parliamentary committee has called upon government ministries to develop tailored regulations specifically addressing cryptocurrency assets and associated service providers.

Furthermore, the panel has called for law enforcement intervention, urging an investigation into Tools for Humanity and the pursuit of any necessary legal measures. While Kenyan authorities advocate for rigorous cryptocurrency regulations, the United States Securities and Exchange Commission (SEC) has continued to adopt an increasingly stringent stance towards the industry.

Recently, the U.S. SEC postponed its rulings on several proposals for Bitcoin exchange-traded funds (ETFs) from major financial institutions, including BlackRock.


As Worldcoin shuts down in Kenya, it exemplifies the global struggle to regulate cryptocurrencies effectively. The parliamentary committee’s stern recommendations underscore the urgent need for comprehensive legal frameworks that balance innovation and user protection. As Kenya grapples with these challenges, it is part of a larger trend where nations are wrestling with the evolving cryptocurrency landscape. Meanwhile, in the United States, the SEC’s cautious approach to Bitcoin ETFs signifies the continued vigilance of regulators in a rapidly changing financial environment. The future of cryptocurrencies remains uncertain, but the discussions and actions taken on both national and international levels will shape its course.

Also Read: Chainalysis lays off 15% staff Amid Cryptocurrency Market Turbulence.

Tags: KenyaWorldcoin
Tweet54SendShare15
Previous Post

Chainalysis lays off 15% staff Amid Cryptocurrency Market Turbulence

Next Post

Celsius revival plans might be Backed by $450 Million in Seed Funding

Reshab Agarwal

Reshab is a tech-enthusiast who likes to write about all things crypto. He is a Bitcoin bull and believes in a decentralized future of finance. Follow him on Twitter for more!

Recommended For You

Trump Unleashes New Tariffs, Sri Lanka Among Seven Nations Facing 30% US Duties

by Anochie Esther
July 10, 2025
0
NRIs

US President Donald Trump on Wednesday, July 9, 2025, announced a fresh wave of tariff demand letters, signaling a renewed and assertive push in his administration's trade policy....

Read more

Starlink Clears Final Regulatory Hurdle, Poised for Launch in India

by Anochie Esther
July 10, 2025
0
Starlink

After years of anticipation and navigating a complex regulatory landscape, Elon Musk's satellite internet venture, Starlink, has finally received the definitive green light to launch commercial operations in...

Read more

Nvidia Shatters Records with $4 Trillion Market Value Amidst AI Supremacy

by Anochie Esther
July 10, 2025
0
Nvidia

Nvidia, the undisputed leader in graphics processing units (GPUs) and a pivotal force in the artificial intelligence (AI) revolution, achieved a historic milestone on Wednesday, July 9, 2025....

Read more
Next Post
celsius-ceo-steps-down-amid-bank

Celsius revival plans might be Backed by $450 Million in Seed Funding

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?