Editor's Pick

Iris-Scanning Worldcoin Token Gets Malaysian Regulator’s Nod

The Securities Commission Malaysia (SC), the country’s regulator, has approved the trading of the Worldcoin (WLD) token on digital asset exchanges recognized by the SC.

Malaysia-based digital business solutions provider Cuscapi announced the move that its associate company MX Global received the approval on May 9, to facilitate trading of WLD token.

In March 2022, MX Global had obtained an unspecified equity investment from cryptocurrency exchange Binance.

The token joins as the 14th among the list of permitted digital assets to be traded in the country. Some of the permitted cryptos include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Polygon (MATIC) and Solana (SOL).

The news arrives a month after Worldcoin executives met with top Malaysian officials, discussing the token’s strategic expansion. Alex Blania, the lead developer of Worldcoin and the co-founder and CEO of Tools of Humanity attended the meeting with key Malaysian government leaders.

Before the physical meeting, both Blania and OpenAI CEO Sam Altman had a 30-minute virtual discussion via video conference with the Malaysian government. They touched on several aspects related to the rapid development of technology.

According to post by the Malaysian President Anwar Ibrahim, Altman and Blania elaborated on the development of the Worldcoin project. They discussed its focus on creating a global and inclusive financial network, prioritizing confidentiality

Regulatory Uncertainty and Privacy Concerns Still Loom on Worldcoin


The Worldcoin initiative sparked privacy apprehensions across various nations. In March, CNPD, Portugal’s data oversight authority, issued a directive, instructing WLD to pause biometric data collection for 90 days.

The CNPD cited that WLD involved a significant risk to citizens’ data protection rights, demanding immediate action to avert harm.

However, Ethereum co-founder Vitalik Buterin has a different view on this eye-ball scanning digital token. Recently, he acknowledged Worldcoin’s efforts to secure user data privacy.

He said that Sam Altman has performed “quite a good job” in implementing cryptographic measures to ensure data confidentiality.

“In my opinion they actually have been doing quite a good job of taking the privacy critiques seriously,” Buterin noted.

The post Iris-Scanning Worldcoin Token Gets Malaysian Regulator’s Nod appeared first on Cryptonews.

You May Also Like

Editor's Pick

Source: Ark Invest / Instagram ARK Investment Management, led by prominent investor Cathie Wood, has reduced its holdings in the Grayscale Bitcoin Trust (GBTC)...

Latest News

A super PAC that has overseen much of Ron DeSantis’s presidential operation has fired its CEO less than two weeks after the previous chief...

Stock

Popeyes is expanding its menu beyond chicken sandwiches — and it’s a permanent change this time. The fast-food chain announced Wednesday it’s adding five...

Latest News

WINDHAM, N.H. — It’s pouring rain Saturday morning as New Hampshire Gov. Chris Sununu (R) arrives at Mary Ann’s diner in Windham, fielding calls...

Disclaimer: Incomeinnovatorhub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 incomeinnovatorhub.com