The launch of the contentious cryptocurrency project was overshadowed by controversy, and it is already under investigation in about a dozen nations.
Another challenge has arisen for the ambitious Worldcoin cryptocurrency project, this time on the Kenyan front. The Kenyan government has appointed a 15-person parliamentary committee, chaired by Gabriel Tongoyo, a member of parliament for Narok West, to conduct a thorough investigation into the contentious digital asset.
The Kenyan government’s action comes in reaction to worries about the Worldcoin project’s operations there. The committee has 42 days to investigate the complexities of the crypto project and report back to the House committee. MP Gabriel Tongoyo was unable to be reached for comment on the subject of the probe and any possible objections he may have to Worldcoin despite Nosisnews’ best efforts.
Related: Worldcoin Faces Investigation in Argentina for Biometric Data Collection
Security Risks and Government Orders
The increased scrutiny from the Kenyan government comes after Worldcoin’s operations there were suspended a few weeks ago. The project’s failure to comply with government orders to stop conducting iris scanning on users led to the suspension being implemented.
During a meeting of a House committee, Interior Cabinet Secretary Kithure Kindiki, a key player in the decision to halt Worldcoin’s operations, expressed the government’s concerns. He underscored the serious security risks posed by Worldcoin’s actions involving the acquisition of citizens’ iris data and registration.
In addition to being the subject of a legislative probe, the contentious cryptocurrency project has encountered opposition from Kenyan regulatory organizations. Worldcoin’s operations were further halted by a court order, which also preserved the information gathered between April 2022 and August 2023 until the outcome of an ongoing case.
From Hype to Scrutiny
Worldcoin first caused a stir for its avant-garde strategy because of its primary focus on digital identity. The idea attracted a lot of attention by offering iris scans in exchange for its own cryptocurrency, the WLD coin. It garnered approximately 2 million users when it was in its experimental period. But as it moved to a public launch in various nations, claims of questionable activities started to emerge.
Many countries, including those in Nigeria, the UK, Argentina, Germany, and Kenya, were encouraged by this to launch investigations into Worldcoin’s operations. The project’s existence in Kenya hangs in the balance while a parliamentary committee investigates the situation.
Related: UK Data Regulators to Investigate Worldcoin