CandleFocus Singapore Investigating Seven People for Providing Worldcoin Services
2024-09-11
Author: Content Editor
Singapore is currently investigating seven individuals who are offering Worldcoin services, as buying or selling Worldcoin accounts and tokens without proper licensing is considered an offense. The issue was brought up in parliament by Ministers Rachel Ong and Derrick Goh, who questioned the lack of regulations and associated risks with the sale of Worldcoin in Singapore. The Deputy Prime Minister and Chairman of Monetary Authority of Singapore stated that while Worldcoin does not fall under payment service regulations, individuals selling or buying Worldcoin accounts and tokens may be acting illegally by providing unlicensed payment services. Singapore's police have also warned the public against giving away or selling their Worldcoin accounts or tokens due to concerns of criminal activity. Additionally, Worldcoin has faced regulatory scrutiny in Colombia, Hong Kong, Argentina, and Kenya. Worldcoin has yet to comment on the investigation.
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