The government has suspended all activities associated with the cryptocurrency project WorldCoin in Kenya until risks to the public are assessed.
According to Interior Cabinet Secretary Kithure Kindiki, the suspension will remain in effect until relevant security, financial services and data protection agencies establish the authenticity and legality of their activities.
The CS has ordered a probe on the safety and protection of the data being harvested, and how the harvesters intend to use the data.
“Relevant security, financial services and data protection agencies have commenced inquiries and investigations to establish the authenticity and legality of the aforesaid activities, the safety and protection of the data being harvested, and how the harvesters intend to use the data,” he stated.
Kindiki added that anybody found further aiding or engaging in the activities will be dealt with as prescribed by 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.”
Worldcoin, owned by American Artificial Intelligence is registered by having an individual scan their iris and they receive 25 free WLD. The tokens are currently valued at over Sh7,000.
Thousands of Kenyans have this week flocked Kenyatta International Conference Center to sign up for the project, despite some admittedly not knowing what cryptocurrency is all about.
