World's Digital Identity Project Faces Regulatory Challenges in Thailand

According to Cointelegraph, OpenAI CEO Sam Altman's digital identity initiative, World, previously known as Worldcoin, is encountering regulatory hurdles in Thailand. Local authorities recently conducted a raid on an iris scanning facility allegedly linked to the platform. This operation was carried out by Thailand's Securities and Exchange Commission (SEC) in collaboration with the Cyber Crime Investigation Bureau (CCIB), targeting a location associated with 'WLD exchange services,' as announced by the SEC on Friday. World's native cryptocurrency, the WLD token, is distributed to eligible users who verify their identity through iris scanning at designated orb locations. The platform reportedly operates 102 such locations across Thailand. However, the SEC and CCIB have raised concerns that the WLD exchange service provider may have violated local digital asset regulations by operating without the necessary license. The authorities have taken action against suspects involved in these activities, with further legal proceedings anticipated. World maintains that it only distributes WLD tokens in regions where legal frameworks permit such activities. The platform's website specifies that eligibility for receiving WLD tokens is subject to geographical, age, and other criteria. Additionally, World disclaims responsibility for the availability of WLD tokens on third-party platforms, whether centralized or decentralized exchanges. Cointelegraph reached out to Tools of Humanity, the developer behind World, for comments on the raid, but no response was received by the time of publication.