Thailand’s Securities and Exchange Commission (SEC) has executed a raid on World Coin’s iris scanning facility in Bangkok following allegations of unauthorized digital token operations. The regulatory action centers on concerns that World Coin’s WLD token activities were conducted without proper licensing under Thai financial laws.
Authorities confirmed the inspection was part of an ongoing investigation into potential violations of the country’s digital asset regulations. The move represents a significant regulatory challenge for World Coin’s ambitious digital identity project, which relies on biometric data collection through iris scanning technology.
Industry analysts note that the Thai SEC’s intervention highlights growing global scrutiny of cryptocurrency operations and biometric data collection practices. The regulatory body has emphasized that all digital asset offerings must comply with local licensing requirements and investor protection standards.
This development comes as multiple jurisdictions worldwide are increasing oversight of cryptocurrency projects and data privacy practices. The outcome of Thailand’s investigation could set important precedents for how biometric-based digital identity systems are regulated within the cryptocurrency space.
World Coin’s operations in Thailand remain under close examination as regulators determine appropriate next steps. The case underscores the complex regulatory landscape facing innovative financial technologies that intersect with personal data collection.
