worldcoin Faces Regulatory Challenges in Kenya and Indonesia
Worldcoin’s token, WLD, has seen a significant drop in value. It fell 7% in one day and 22% this week.Despite this, trading activity rose by 64%. This surge in trading shows that investors are reacting quickly to changes.
Worldcoin is now facing legal issues in Kenya and Indonesia. In Kenya, a High Court ordered the Worldcoin Foundation to delete all biometric data it collected.This includes facial and iris scans. The court also banned the collection of new data. The ruling came after a lawsuit by the Katiba Institute. the institute criticized Worldcoin’s use of crypto incentives for personal data.
Indonesia has also suspended worldcoin’s digital identity platform, World ID. The Ministry of Dialog stated that the business was not properly registered. Consequently, authorities put a hold on Worldcoin’s certification.
Technically, WLD is trading near $0.88. It has fallen from its April high of $1.20. The price is just above support at $0.86. However, the token has shown short-term weakness by breaking below the 20-day moving average.
The next key levels to watch are $0.80 and $0.75. If WLD loses support near $0.86, it could fall further.Conversely, a rebound might push the price toward the $0.94 resistance level. But regaining bullish momentum might need high volume and positive news.
The future of Worldcoin now depends on how it handles regulatory pressure in key markets.
