Worldcoin, the crypto project using iris biometrics, has made a deal with Kenyan authorities to restart its operations in the country.
Representatives from Worldcoin are actively collaborating with regulators to ensure they meet all the necessary requirements set by Kenya.
Worldcoin Eyes Resumption of Operations in Kenya
Worldcoin, the iris biometric cryptocurrency project, is reportedly on track to resume operations in Kenya, potentially in early 2024. Unnamed sources suggest that Worldcoin representatives have reached an agreement with Kenyan authorities, paving the way for a restart under new guidelines.
This development follows a suspension of Worldcoin’s activities a few months ago by Kenyan regulators, who insisted that the project lacked the required license for its operations in the East African country. The anticipated agreement signals a potential revival of Worldcoin’s distribution of WLD tokens, involving the scanning of users’ eyeballs, once the new guidelines are in place.
Worldcoin Navigates Regulatory Challenges in Kenya
In response to the suspension of its operations in Kenya, Worldcoin representatives engaged with the country’s legislative body, addressing concerns raised by regulators. According to a report by Citizen Digital, Worldcoin appears to have addressed these initial concerns, and the project is actively collaborating with regulators to align with Kenya’s requirements, especially as the Assembly contemplates new regulations.
An unnamed source mentioned in the report stated, “Worldcoin is working directly with regulators to meet Kenya’s requirements, particularly as the Assembly considers new regulations. Stipends will remain and will expand to locations across the country.”
However, the report did not specify the timeline for the Kenyan parliament to pass the anticipated data regulations that will provide guidance for entities like Worldcoin operating in the country.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
Join Cryptos Headlines Community
Follow Cryptos Headlines on Google News
