Indonesia has put a stop to Sam Altman’s World project, formerly called Worldcoin
$0.8779
, after raising concerns about how it was operating in the country.
On May 4, the Ministry of Communications and Digital (Komdigi) suspended the Electronic System Operator Certificate Registration (TDPSE) for World and its related service, World ID. Officials said the decision was based on signs of suspicious activity and possible violations of registration rules.
Komdigi explained that it will ask two local companies connected to World—PT Terang Bulan Abadi and PT Sandina Abadi Nusantara—to provide clarification.
Did you know?
Subscribe – We publish new crypto explainer videos every week!
Crypto Fees Explained: How Not to Overpay? (Animated)
Early findings suggest that PT Terang Bulan Abadi had been offering services without having the proper registration certificate of an electronic system operator, while World was using PT Sandina Abadi Nusantara for its operations and might have given incorrect legal information.
Alexander Sabar, Komdigi’s director general for digital supervision, said that World was using a registration certificate that actually belonged to PT Sandina Abadi Nusantara.
Komdigi reminded all digital service providers that they must register under their own name, and using another company’s registration is a major breach of the rules.
Sabar also stressed that keeping the digital environment safe is a shared responsibility. He said, “We invite the public to help maintain a safe and trusted digital space for all citizens”.
On April 30, World announced that it had officially started offering its services in the United States. What did the company say about it? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
