The Securities Commission Malaysia (SC) has approved the trading of the Worldcoin (WLD) token on digital asset exchanges recognized by the SC. Malaysia-based digital business solutions provider Cuscapi announced that its associate company MX Global received approval on May 9 to facilitate trading of the WLD token. MX Global had previously received an unspecified equity investment from cryptocurrency exchange Binance in March 2022. The WLD token is now the 14th digital asset permitted for trading in Malaysia, joining other popular cryptos such as Bitcoin, Ethereum, Litecoin, Ripple, Polygon, and Solana. The news of the approval comes following a meeting between Worldcoin executives and top Malaysian officials, discussing the token’s strategic expansion. Lead developer of Worldcoin and co-founder and CEO of Tools of Humanity, Alex Blania, along with OpenAI CEO Sam Altman, had virtual discussions with Malaysian government leaders on the development of the Worldcoin project and its focus on creating a global and inclusive financial network prioritizing confidentiality.
Despite the approval of the WLD token for trading in Malaysia, regulatory uncertainty and privacy concerns continue to loom over the Worldcoin initiative. In March, CNPD, Portugal’s data oversight authority, issued a directive instructing Worldcoin to pause biometric data collection for 90 days, citing significant risks to citizens’ data protection rights. However, Ethereum co-founder Vitalik Buterin has expressed a different view on the eye-ball scanning digital token. Buterin acknowledged Worldcoin’s efforts to secure user data privacy, noting that Sam Altman has implemented cryptographic measures to ensure data confidentiality. Buterin praised Worldcoin for taking privacy critiques seriously and commended their work in this area.
The approval of the WLD token for trading in Malaysia adds another digital asset to the list of permitted cryptos in the country, further expanding the options available to investors and traders. The move comes after MX Global, an associate company of Cuscapi, received approval from the Securities Commission Malaysia to facilitate trading of the WLD token. The equity investment from cryptocurrency exchange Binance in MX Global in March 2022 also played a role in advancing the Worldcoin initiative and increasing its credibility in the digital asset space. The addition of the WLD token to the list of permitted digital assets in Malaysia reflects the growing acceptance and recognition of cryptocurrencies in the country’s financial markets.
The meeting between Worldcoin executives and Malaysian government leaders highlighted the strategic importance of the token’s expansion and development in the region. Lead developer Alex Blania and OpenAI CEO Sam Altman discussed various aspects related to technology development and the Worldcoin project, emphasizing the creation of a global and inclusive financial network while prioritizing confidentiality. The discussions with Malaysian government officials underscored the efforts of Worldcoin to engage with regulatory authorities and address privacy concerns. The approval of the WLD token for trading in Malaysia is a significant milestone for the Worldcoin project, signaling its increasing presence in the global digital asset market.
Despite privacy concerns and regulatory uncertainties surrounding the Worldcoin initiative, the approval of the WLD token for trading in Malaysia demonstrates the project’s progress and engagement with regulatory authorities. The decision by the Securities Commission Malaysia to permit trading of the WLD token on recognized digital asset exchanges reflects a positive development for the Worldcoin project and its growth in the digital asset market. The discussions between Worldcoin executives and Malaysian government leaders have paved the way for strategic expansion and development opportunities in the region, showcasing the commitment of Worldcoin to creating a global and inclusive financial network while prioritizing confidentiality. The approval of the WLD token in Malaysia marks a significant milestone for the project and opens up new possibilities for investors and traders interested in the digital asset space.
