Worldcoin Price Slips 5% As Kenya Rejects US Plea to Maintain Suspension

Worldcoin prices took a dip on Friday while Kenya’s government decided to reject the US government’s pressure to allow Worldcoin’s operations. According to local media reports, Kenya has turned down a request from the US government to lift the Worldcoin cryptocurrency project’s suspension of operations.

Kenya to Maintain Ban on Worldcoin

Sam Altman-backed Worldcoin is still facing a roadblock in Kenya as the country is still keeping its ban on the project. According to Business Daily Africa, Kithure Kindiki, the Interior Cabinet Secretary, informed the Kenyan Parliament that the government will not be lifting the August 2023 prohibition on Worldcoin’s operations. Prof. Kindiki stated in her appearance before the National Assembly’s committee on public petitions that Kenya has been receiving pressure from the US administration to remove the suspension.

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Kenya’s Ban on Worldcoin

Previously, a parliamentary committee in Kenya had firmly suggested that the Worldcoin cryptocurrency project be put on hold right away. This prompt call to action followed mounting concerns about users’ privacy and the urgent need for strong laws. Notably, in August last year, the Kenyan government boldly decided to put a pause on the Worldcoin program.

However, this was not the only incident in which Worldcoin has been penalized for data security. Previously, the Spanish data protection authority, the AEPD, had ordered Worldcoin to cease collecting personal data in the country. The authority had also ordered to stop using the data it had already gathered. The South Korean organization PIPC had also started an earlier investigation into the project. This was in response to complaints over the collection and use of personal data, particularly those related to iris and face scans. Remarkably, the panel voiced worries regarding potential infringements upon the Personal Information Protection Act. The Hong Kong Privacy Commissioner’s Office (PCPD) launched a comparable inquiry at six Worldcoin locations in Hong Kong for potential privacy risks as well.

Worldcoin currently intends to remove the option for its customers to have their biometric data encrypted and saved.

WLD Prices Today

WLD prices have toppled nearly 5% in the past 24 hours. At the press time, it stood at $7.95, down nearly 3% in the last 24 hours. As compared to the same time last day, the trading volume for WLD has fallen 28% to $289.2 million. The fall in price has continued for this week, with the WLD being down 12% for the period of the past seven days.

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