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BTCC / BTCC Square / Global Cryptocurrency /
Indonesia Freezes World Project After Shell-Permit Breach – 20 M Traders on Edge

Indonesia Freezes World Project After Shell-Permit Breach – 20 M Traders on Edge

Author:
Global Cryptocurrency
Published:
2025-05-05 15:55:02
13
3

Indonesia has suspended the operating certificates of Sam Altman’s digital identity venture, World (formerly Worldcoin), citing registration irregularities and unlicensed iris-scanning operations. The Ministry of Communication and Digital (Komdigi) found the project used shell entities to bypass local laws, raising ethical concerns over biometric data trading for crypto rewards.

The regulatory crackdown highlights vulnerabilities in crypto compliance frameworks, with PT Terang Bulan Abadi—Worldcoin’s local partner—failing to secure proper permits. The move leaves 20 million traders questioning the stability of projects leveraging sensitive personal data.

|Square

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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