Amitoj Singh is a CoinDesk reporter.
Singapore is investigating seven"subjects" for offering services of buying or selling of Worldcoin accounts and tokens which is an offense,OpenAI founder Sam Altman has founded the retina-scanning crypto startup, Worldcoin.
Two Singapore Ministers of Parliaments, Rachel Ong and Derrick Goh raised questions about whether the sale of Worldcoin in the country has any regulations supporting it or any risks associated with it. Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, and Chairman of Monetary Authority of Singapore responded to say that while Worldcoin does not perform a payment service under Singapore regulations, people buying or selling Worldcoin accounts and tokens may be acting illegally by providing a payment service as unlicensed individuals.
On August 7, Singapore's police warned the public against giving away or selling their Worldcoin accounts or tokens for fear of it being used for criminal activities.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.
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