Indonesia Suspends Worldcoin for Regulatory Non-Compliance
The Indonesian government suspended Worldcoin’s local operator, PT Terang Bulan Abadi, for non-compliance with regulatory requirements. This move aims to address rising privacy concerns, especially around iris scanning technologies.
Regulatory action was taken by the Director General of Digital Space Oversight, citing serious violations. Alexander Sabar, Director General of Digital Space Oversight, Indonesia’s Ministry of Communication and Digital, stated, “non-compliance to the registration requirement and abusing the identity of other legal bodies to conduct digital service operations amount to serious violations of our regulations.” These include use of unregistered entities in digital service operations, highlighting the need for strict compliance with Indonesian laws.
Worldcoin Token Drops 5% Amid Indonesian Suspension
Worldcoin’s token value dropped by over 5% following the Indonesian suspension. The move has raised awareness about the necessity for further regulatory clarity across global markets involved with biometric data collection.
The Indonesian suspension echoes similar regulatory actions in Kenya, impacting Worldcoin’s global expansion strategy. The challenges emphasize increasing focus on data privacy and compliance with national and international laws.
Kenya’s Legal Actions Echoed in Indonesian Decision
Similar actions were seen in Kenya, where a High Court ordered Worldcoin to delete data collected without legal consent, reflecting ongoing scrutiny of biometric technologies. These events highlight regulatory processes across different markets.
Kanalcoin experts suggest the Indonesian action places additional pressure on cryptocurrency projects to adapt to evolving legal landscapes. This trend may necessitate adjustments in operational strategies to ensure compliance across jurisdictions.
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The post Indonesia Halts Worldcoin Operations Over Regulatory Concerns appeared first on Kanalcoin.
