🇰🇪 Kenya Suspends Worldcoin Operations ⛔

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Here is what we have for you today

• Kenya suspends Worldcoin operations over security and data concerns

• Elon Musk says X has no plans of launching token

• US DoJ wants former FTX boss, Sam Bankman-Fried, to be detained

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Here is What else we dug for you

Kenya suspends Worldcoin operations over security and data concerns

Here is what we know about the story

The Ministry of the Interior and National Administration in Kenya announced on Aug. 2, 2023, that Worldcoin will no longer operate in the country.

According to a release posted on Facebook, there are ongoing investigations by the country’s security, data protection, and financial services agencies, concerning the legality and authenticity of Worldcoin’s biometrics data collection.

Will the suspension be lifted?

Yes. According to the official release, the suspension is temporary as regulators conduct due diligence on Worldcoin and its associated airdrop and data collecting activities.

Sam Altman’s WorldCoin crypto eye-scanning project continues to face regulatory scrutiny. Data regulators in the United Kingdom, Germany, and France have also expressed concerns about the project and have launched investigations into the project.

However, Kenya is the only country so far, which has moved to suspend the company’s operations.

Elon Musk says X has no plans of launching token

Elon Musk’s social media platform, X, has no plans of launching a crypto token, despite previous rumors suggesting otherwise.

Here is what we know about the story:

The decision comes after a warning from a Dogecoin (DOGE) graphic designer, who alerted the crypto community to potential scam tokens falsely claiming association with X.

The designer noted that neither Elon Musk nor X has ever launched a crypto token, prompting Musk to respond, saying the social media platform has no plans of launching any crypto token.

It is widely known that Elon Musk has publicly expressed his support for Dogecoin (DOGE). His interest in the project was evident when he temporarily replaced his Twitter logo with the Shiba Inu logo behind Dogecoin, forcing DOGE up by 27%.

Elon Musk only affirmed that X will integrate crypto payments but cryptographic token is coming.

US DoJ wants former FTX boss, Sam Bankman- Fried, to be detained

The United States Department of Justice (DoJ) has asked for Sam Bankman-Fried, the former CEO of FTX, a now-defunct exchange, to be detained.

Here is what we know about the story:

The request was made in a letter addressed to Judge Lewis A. Kaplan of the United States District Court for the Southern District of New York. Bankman-Fried is being charged with witness tampering and the unauthorized release of Ellison’s private writings to the New York Times, which allegedly harmed her reputation.

The DoJ strongly disagrees with the defense’s argument that removing Bankman-Fried’s bail would infringe on his right to free speech.

They argue that Bankman-Fried went beyond exercising his First Amendment right to speak with the media and covertly tried to weaken a witness’s credibility and sway the verdict. Accordingly, the DoJ believes the appropriate course of action is to refuse Bankman-Fried’s bail request and keep him detained until his trial.

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Read our Previous Newsletters

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• EU Passes World's First Regulatory Framework for Cryptocurrency ⚖️ 

• 🚨 Red Alert: 76 Cryptocurrencies Are Now Illegal! 😱

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