Giovanni Russo Report: Worldcoin Set to Resume Kenyan Operations in Early 2024
Worldcoin, the iris biometric cryptocurrency project, has apparently reached an agreement with Kenyan authorities, paving the way for the resumption of its operations within the African nation. Representatives from Worldcoin are reported to be in direct collaboration with regulatory bodies to align with Kenya’s stipulated requirements.
Worldcoin Aims to Restart Iris Scanning Operations in Kenya in Early 2024
According to undisclosed sources, it appears that Worldcoin’s representatives have successfully negotiated terms with Kenyan authorities that will allow the iris biometric cryptocurrency initiative to recommence its activities, albeit under a new set of guidelines. The report, citing anonymous insiders, suggests that this development is likely to materialize in the early months of 2024.
This development follows a period during which Kenyan authorities suspended Worldcoin’s distribution of WLD tokens to users who consented to having their irises scanned. As previously reported by CryptokenTop.com News, Kenyan regulators had raised concerns over Worldcoin’s lack of the necessary licensing to carry out its operations within the East African nation.
In response to the suspension, representatives from Worldcoin made a visit to Kenya and appeared before the country’s legislative body. According to a report from Citizen Digital, Worldcoin may have successfully addressed the initial concerns raised by regulatory authorities.
An unnamed source stated, “Worldcoin is actively collaborating with regulators to fulfill Kenya’s requirements, particularly as the Assembly deliberates on new regulations. Stipends will continue and expand to various locations across the country.”
However, the report did not disclose the expected timeline for the Kenyan parliament to pass the new data regulations that will provide guidance for entities like Worldcoin.
Share your thoughts on this development in the comments section below.
Table Of Contents
Frequently Asked Questions (FAQs) about Iris Biometric Crypto Resumption
What is Worldcoin’s current status in Kenya?
Worldcoin is set to resume its operations in Kenya in early 2024, following an agreement with Kenyan authorities.
Why were Worldcoin’s operations suspended in Kenya previously?
Kenyan regulators had suspended Worldcoin’s activities due to concerns regarding the lack of necessary licensing for its operations in the country.
What is Worldcoin’s approach to complying with Kenyan regulations?
Worldcoin representatives are actively working with Kenyan regulators to meet the country’s requirements, particularly as new data regulations are being considered by the Kenyan parliament.
What can users expect from Worldcoin’s operations in Kenya?
Worldcoin intends to restart its iris biometric scanning operations and distribute WLD tokens to users who consent to the scanning process. Stipends will continue and expand to various locations across Kenya.
When can we expect the new data regulations to be passed in Kenya?
The report does not provide a specific timeline for when the Kenyan parliament is expected to pass the new data regulations that will guide entities like Worldcoin.
4 comments
Compliance with regulations is key for crypto projects, this move seems promising.
Worldcoin back in Kenya sounds good, hope they got their act together this time!
kenya suspends them before, now they are back, wonder what changed?
WLD tokens, iris scanning, and Kenya, interesting combination.