Singapore is the latest country to take issue with the crypto start-up Worldcoin. The nation-state's Deputy PM and Chairman of the Monetary Authority of Singapore, Gan Kim Yong, claimed in Parliament that seven people are currently under investigation for allegedly offering services of buying or selling Worldcoin accounts.

Yong stated that "Worldcoin does not perform a payment service under the PS Act. However, persons who buy or sell Worldcoin accounts and tokens as a business may be providing a payment service." This is an offense under Singapore's Payment Services Act of 2019.

The investigation comes on the back of the country's police warning its citizens against selling their Worldcoin accounts or tokens last month. Worldcoin has been at the center of many controversies over the past year, particularly around its practice of capturing identifying data through retina scans.

Source: https://ambcrypto.com/singapore-cracks-down-on-unlicensed-worldcoin-account-and-token-sales/

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