• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Worldcoin Faces Further Scrutiny in Singapore: Data Violations and Financial Crimes

user avatar

by Giorgi Kostiuk

2 years ago

  1. Investigation in Singapore
  2. Accusations and Suspicions
  3. Previous Allegations


    4. Since its launch, the cryptocurrency Worldcoin has been the focus of investigations due to accusations of violating national data protection laws. Now, new allegations have brought Worldcoin under the scrutiny of Singaporean regulators.

    Investigation in Singapore

    Worldcoin is facing an investigation in Singapore for its alleged involvement in money laundering and terrorism financing. Deputy Prime Minister of Singapore and Chairman of the Monetary Authority of Singapore (MAS), Gan Kim Yong, stated that they have launched an investigation into a group of individuals who are offering to sell and buy Worldcoin accounts and tokens to third parties.

    Accusations and Suspicions

    According to information received from MAS, Worldcoin does not provide a payment service within the scope of the Payment Services Act. However, individuals who purchase or sell Worldcoin accounts and tokens as a business may be providing a payment service. At this point, illegally sold Worldcoin accounts and tokens may be misused in criminal activities such as money laundering and terrorist financing.

    According to information received from MAS, Worldcoin does not provide a payment service within the scope of the Payment Services Act... However, individuals who purchase or sell Worldcoin accounts and tokens as a business may be providing a payment service.Gan Kim Yong

    Previous Allegations

    Previously, Worldcoin had faced allegations of violating personal data protection regulations in Colombia.

    The investigation in Singapore confirms the ongoing issues Worldcoin faces with regulatory compliance. We will continue to monitor developments surrounding this project.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Ripple's Legal Victory Over SEC Confirmed by Token Taxonomy

chest

Ripple's survey comes just as the SEC released a token taxonomy that confirmed XRP is a digital commodity, not a security.

user avatarEmily Carter

Private Crypto Holders Face Significant Losses Due to New Malware

chest

Private crypto holders faced significant losses due to a new iOS malware called Ghostblade, which targets sensitive data and personal information.

user avatarTomas Novak

Market Analysts Prepare for Potential Bitcoin Downturn

chest

Analyst Lennaert Snyder is preparing for a potential downturn in Bitcoin prices, having positioned himself short in anticipation of market movements.

user avatarKaterina Papadopoulou

Analyst Raises Concerns Over Bitcoin Price Weakness

chest

An analyst has raised concerns about the current weakness in Bitcoin's price, providing insights into potential risks.

user avatarMaya Lundqvist

New Editorial Policy Focuses on Accuracy and Impartiality

chest

A new editorial policy has been implemented that emphasizes accuracy, relevance, and impartiality in reporting.

user avatarLeo van der Veen

Google's Alphabet Stock Issues First Dividend of 2026

chest

Alphabet Inc. has paid its first dividend of 2026, providing passive income to investors.

user avatarLi Weicheng

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.