The country emphasises the necessity of dealing with digital assets’ risks for developing economies.
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Worldcoin cryptocurrency project suspended in Kenya
Kenyan authorities want to make sure that Worldcoin poses no risks to the security of citizens before it allows the project to gather iris data.
Worldcoin cryptocurrency project suspended in Kenya
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The new cryptocurrency and digital identity project, Worldcoin, is facing a rough start in Kenya, with the government halting all local activity associated with it.
Kenya’s minister of internal security took to Facebook on Aug. 2 to announce that the country has suspended the activities of Worldcoin until relevant public agencies had certified the absence of risks to Kenyans.
“Relevant security, financial services and data protection agencies have commenced inquiries and investigations to establish the authenticity and legality of the aforesaid activities,” Minister Kithure Kindiki said in a statement.
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Cointelegraph YouTube
In the latest episode of “The Market Report,” analyst and writer Marcel Pechman discusses the BALD token rug pull and the allegations pointing toward FTX founder Sam “SBF’ Bankman-Fried as the culprit. The token launched on Coinbase’s Base network, which is currently under development, and witnessed incredible gains between July 30 and 31.
Pechman notes that it is impossible to know how much fake volume and how many trades involving the same entity or small groups were used to prop up BALD’s price on decentralized exchanges (DEXs). Further evidence for this hypothesis is the 85% price plunge shortly after BALD’s developer removed the liquidity deposited in DEX pools.
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