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The Securities Commission Malaysia (SC), the regulatory body of the nation, has granted approval for the trading of the Worldcoin (WLD) token on digital asset exchanges that are recognized by the SC.
Cuscapi, a digital business solutions provider based in Malaysia, announced that its affiliate MX Global received this approval on May 9, enabling the trading of the WLD token.
In March 2022, MX Global secured an undisclosed equity investment from the cryptocurrency exchange Binance.
The token now ranks as the 14th digital asset authorized for trading within the country. Among the other approved cryptocurrencies are Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Polygon (MATIC), and Solana (SOL).
This announcement follows a meeting between Worldcoin executives and senior Malaysian officials, where they discussed the strategic growth of the token. Alex Blania, the lead developer of Worldcoin and co-founder and CEO of Tools of Humanity, participated in discussions with prominent leaders from the Malaysian government.
Prior to the in-person meeting, both Blania and OpenAI CEO Sam Altman engaged in a 30-minute virtual conversation via video conference with the Malaysian government, addressing various topics related to the swift advancement of technology.
As per a post by Malaysian President Anwar Ibrahim, Altman and Blania provided insights into the Worldcoin project’s development, emphasizing its aim to establish a global and inclusive financial network while prioritizing privacy.
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Regulatory Uncertainty and Privacy Concerns Still Loom on Worldcoin
The Worldcoin initiative has raised privacy concerns in multiple countries. In March, CNPD, Portugal’s data protection authority, issued an order requiring WLD to suspend biometric data collection for a period of 90 days.
The CNPD indicated that WLD posed a considerable risk to the data protection rights of citizens, necessitating prompt action to prevent potential harm.
Conversely, Ethereum co-founder Vitalik Buterin holds a different perspective on this biometric scanning digital token. Recently, he recognized Worldcoin’s initiatives to safeguard user data privacy.
He remarked that Sam Altman has done “quite a good job” in implementing cryptographic measures to maintain data confidentiality.
“In my opinion they actually have been doing quite a good job of taking the privacy critiques seriously,” Buterin stated.
The post Iris-Scanning Worldcoin Token Gets Malaysian Regulator’s Nod appeared first on Cryptonews.
