The government of Kenya just announced a temporary halt on all activities of Worldcoin, the global crypto project, within its borders. The decision, taken in the interest of public safety, highlights the persistent concerns regarding privacy and data protection in the country. Will this impact Worldcoin with a potential Worldcoin price crash?
Worldcoin, known for its unique business model of providing free cryptocurrency in exchange for an iris scan, has been met with resistance. Critics argue that such a model potentially infringes upon personal data protection rights. In an age where data privacy has become a critical issue worldwide, the Kenyan government’s decision is seen as a move to safeguard its citizens against potential misuse of sensitive personal information.
The Government’s Stand
In its official statement, the Kenyan government highlighted that the suspension would remain in place until a comprehensive investigation is carried out. The intent is to scrutinize the operations of Worldcoin and to ensure that the privacy rights of Kenyan citizens are not violated. The government has also called upon its citizens to refrain from participating in Worldcoin’s activities until the review process is completed.
Worldcoin’s Response
On its part, Worldcoin has reiterated its commitment to respecting privacy laws and ensuring the security of its users’ data. The company has stated that it will cooperate with the Kenyan authorities throughout the investigation and work towards addressing any concerns that have arisen.
Worldcoin Price Prediction: Will Worldcoin Price Crash?
The Worldcoin (WLD) token, following its official launch, has seen a steady positive trend in its market price. However, emerging negative fundamental factors could pose a threat to this trajectory. As investors become increasingly aware of data privacy risks, and with global governments ramping up efforts to address these concerns, Worldcoin might find itself in a precarious position.
The current price of the WLD token stands at $2.4, but due to these unfolding events, it is speculated that there could be a correction in the price, potentially leading it to fall to $2.2 as an initial step. If the situation continues to deteriorate, the token’s price could further slide to $2. This scenario underlines the vulnerability of the cryptocurrency market to real-world events and regulatory shifts.