Singapore investigates unauthorized Worldcoin account sales as regulators raise concerns over data misuse and criminal activity.
The misuse of Worldcoin, the controversial identity-capturing cryptocurrency project, is under investigation in Singapore for perpetrating money laundering and terrorism financing.
On Sept. 9, Gan Kim Yong, the deputy prime minister of Singapore and the chairman of the Monetary Authority of Singapore (MAS), revealed an ongoing investigation into a group of individuals offering third-party sales and purchases of Worldcoin accounts and tokens.
During a Parliamentary discussion, Yong said that seven individuals were under police investigation for offering Worldcoin-related services without licenses, which is considered an offense under the Payment Services Act 2019:
