WorldCoin in negotiations to resume Kenya operations under new regulations
Business
By
Standard Reporter
| Dec 14, 2023
Operations of cryptocurrency project Worldcoin may resume following discussions with the Kenyan government.
Highly placed sources told The Standard that the two parties were inching towards an agreement on the resumption of operations but under new strict guidelines, to be considered by Parliament.
Sources said WorldCoin is working directly with regulators to meet Kenya's requirements, particularly as the National Assembly considers new regulations.
The Government had in August 2023 suspended Worldcoin operations in the country pending a risk assessment.
In a statement issued on Wednesday, August 2, the Ministry of Interior said it was suspending all activities until concerned government agencies ascertain that the app is free of any risks.
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"The Government has suspended, forthwith, activities of Worldcoin and any other entity that may be similarly engaging Kenyans until relevant public agencies certify the absence of any risks to the general public whatsoever," said Interior Cabinet Secretary Kindiki Kithure.
Mr Alex Blania, the Worldcoin project boss, while appearing before the National Assembly's ad-hoc committee inquiring into the Worldcoin project in Kenya in September 2023, said they were building the world's largest identity and financial network.
Mr Blania told the committee that his team - Tools for Humanity (TFH) - aims to create universal access to the global economy regardless of country or background.
He said that would accelerate the transition to an economic future that welcomes and benefits everyone on the planet.
He also told the committee that his company had not violated any provision of the Kenyan data privacy legislation by submitting its application as a foreign entity without local presence in Kenya.
He said the Worldcoin project complies with requirements of the Data Protection Act General Regulations, and the Guidance Notes on Consent issued by the Office of the Data Protection Commissioner which require consent to be specific, informed, clear, unequivocal and signified through an affirmative action.