In response to recent reports of a Singaporean investigation into Worldcoin, the controversial cryptocurrency project co-founded by OpenAI’s Sam Altman, the firm has asserted that it is not under investigation by Singaporean authorities.
“Neither Worldcoin nor Tools for Humanity are under investigation by Singapore’s police,” the company told The Defiant, a crypto media outlet. “The individuals currently being investigated for possible violations of the Payment Services Act are not affiliated with Worldcoin or its operations.”
On September 9, Gan Kim Yong, Chairman of Singapore’s Monetary Authority of Singapore (MAS), revealed in a parliamentary statement that seven individuals are being investigated for allegedly buying or selling Worldcoin accounts and tokens, which could be in violation of the Payment Services Act 2019. Yong indicated that such activities might qualify as providing a payment service.
Worldcoin has faced legal and regulatory challenges globally, from Germany to Kenya. In Kenya, the project was subjected to parliamentary scrutiny last year, leading CEO Alex Blania to testify before lawmakers. Blania emphasized that Worldcoin does not involve data collection or sales, asserting that biometric data cannot be linked to World ID and that most technical details of the project are publicly accessible.
Despite these assurances, some Kenyan lawmakers criticized Worldcoin, likening it to “a gang of criminals” exploiting data from young people. Kenyan Cabinet Secretary for the Interior and National Administration, Kithure Kindiki, expressed concerns about the project’s use of biometric data for citizen registration.
Worldcoin has also drawn criticism from privacy advocates, including Edward Snowden, who has warned against “cataloguing eyeballs” in connection with the project.
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