Kenya has suspended Worldcoin scans due to security, privacy and financial concerns. Worldcoin is a digital currency that is similar to Bitcoin, but allows its users to scan the coins for purchase or sale and to send or receive payment without the need for a traditional banking account.
Kenya’s Central Bank has recently taken this action in response to security, privacy and financial concerns. According to the Central Bank, this was done to ensure that the Kenyan banking system remains secure and free of the risks associated with cryptocurrencies.
The Central Bank has also expressed concern about Worldcoin’s use in laundering money, due to its anonymity. Additionally, its lack of regulatory oversight means that its users are not protected from fraud or manipulation. The Bank also worries that the currency could be used to facilitate illegal activities, such as money laundering.
Worldcoin scans cannot currently be done in Kenya, meaning that its users are unable to use the currency as a viable payment method. Many businesses that rely on Worldcoin transactions, such as online gambling sites, are likely to be affected by this decision.
This move by the Central Bank of Kenya follows similar actions taken in other countries, such as the United States, Australia and Canada. These countries have also suspended the use of Worldcoin, citing security, privacy and financial risks as the main reasons.
It is not clear when or if Worldcoin scans will become available in Kenya again. In the meantime, its users are advised to seek alternative methods of payment or to switch to another digital currency. Despite the risks, many people still choose to use cryptocurrencies due to their convenience and cost-effectiveness.
The decision by Kenya’s Central Bank to suspend Worldcoin scans highlights the need for further regulation of digital currencies in order to ensure public safety. Until such regulation is implemented, however, its users should be aware of the risks and take the necessary precautions to protect their funds.
