Worldcoin’s $1B Dream Crumbles: Kenya and Indonesia Ban Eye-Scanning Crypto!
Worldcoin’s WLD token dives 6% after Kenya orders biometric data deletion and Indonesia suspends operations. Is this the end for Sam Altman’s crypto vision?
Worldcoin’s Woes: Regulatory Crackdowns Clip Its Wings
Worldcoin, the eye-scanning crypto project co-founded by OpenAI’s Sam Altman, hit a wall on May 5, 2025, as Kenya’s High Court ordered the deletion of all biometric data collected locally, while Indonesia suspended its operations, per crypto.news. After a 300% rally pushed WLD to $12, the token dropped 6% amid these setbacks, reflecting investor jitters despite a 24-hour trading volume surge to $1.13 billion.
What Happened?
Kenya ruled Worldcoin’s iris-scanning for crypto incentives illegal, citing violations of the 2019 Data Protection Act. The court banned new data collection and mandated data erasure within seven days, per Kenyans.co.ke. Indonesia, on May 4, halted Worldcoin’s World ID platform for unregistered operations and suspicious activities, joining Hong Kong, Spain, and Portugal in raising privacy concerns, per The Star. Posts on X, like
Kenya ruled Worldcoin’s iris-scanning for crypto incentives illegal, citing violations of the 2019 Data Protection Act. The court banned new data collection and mandated data erasure within seven days, per Kenyans.co.ke. Indonesia, on May 4, halted Worldcoin’s World ID platform for unregistered operations and suspicious activities, joining Hong Kong, Spain, and Portugal in raising privacy concerns, per The Star. Posts on X, like
@CryptoBull_360
, highlight the rulings’ severity, with Kenya’s decision sparking global attention.
Why It Matters
For new investors, Worldcoin’s troubles underscore the risks of innovative crypto projects. Its World ID, which verifies human identity via iris scans, promised secure transactions but alarmed regulators over data privacy. With 8.2 million users globally, per Cointelegraph, the project’s appeal is clear, but bans could erode trust. WLD’s volatility—down from a $15 peak—shows how regulatory news can tank prices. Yet, Worldcoin’s U.S. expansion and Coinbase’s WLD listing plans suggest resilience, per Coingape.
For new investors, Worldcoin’s troubles underscore the risks of innovative crypto projects. Its World ID, which verifies human identity via iris scans, promised secure transactions but alarmed regulators over data privacy. With 8.2 million users globally, per Cointelegraph, the project’s appeal is clear, but bans could erode trust. WLD’s volatility—down from a $15 peak—shows how regulatory news can tank prices. Yet, Worldcoin’s U.S. expansion and Coinbase’s WLD listing plans suggest resilience, per Coingape.
What’s Next?
Worldcoin faces a tough road. Compliance with data laws or pivoting away from biometrics may be key to survival. Investors should watch for further bans and WLD’s support at $10, per Yahoo Finance. Stick to diversified portfolios and verify project legitimacy.
Worldcoin faces a tough road. Compliance with data laws or pivoting away from biometrics may be key to survival. Investors should watch for further bans and WLD’s support at $10, per Yahoo Finance. Stick to diversified portfolios and verify project legitimacy.
What’s your take on Worldcoin’s biometric bet? Comment below and follow trafy.io for more crypto drama!
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The information provided on trafy.io does not constitute investment advice or recommendations. All investment and trading activities involve risks, and readers are advised to conduct their own research before making decisions.
NOTICE:
The information provided on trafy.io does not constitute investment advice or recommendations. All investment and trading activities involve risks, and readers are advised to conduct their own research before making decisions.
