World, OpenAI CEO Sam Altman’s digital identity project formerly known as Worldcoin, is once again under regulatory pressure this time in Thailand.
The country’s Securities and Exchange Commission (SEC), working alongside the Cyber Crime Investigation Bureau (CCIB), conducted a raid on an iris scanning location allegedly linked to “WLD exchange services.
World’s native token, WLD ($0.89), is distributed to users who verify their identity through iris scans at the project’s “orb” devices. The company reportedly operates 102 orb locations in Thailand, offering identity verification in exchange for token rewards.
Allegations of operating without a license
Authorities claim the local operator may have breached Thailand’s digital asset regulations by providing WLD exchange services without the necessary licenses.
The investigator has arrested suspects for committing the offense, subject to further relevant law enforcement proceedingst.
World’s website states that WLD token distribution is limited to regions “where laws allow,” with restrictions based on geography, age, and compliance factors. The company also emphasized that it is not responsible for token availability on third-party exchanges, whether centralized or decentralized.
Global regulatory pushback intensifies
Since its launch in July 2023, World has faced multiple regulatory challenges across several jurisdictions.
In May 2024, Indonesia’s Digital Ministry launched an investigation into the platform, citing potential registration violations and suspicious local activity. World temporarily paused its verification services in the country to clarify licensing terms with authorities.
Elsewhere, Germany, Kenya, and Brazil have all voiced concerns over the collection and protection of biometric data from World App users, underscoring global unease around privacy and data security within the project.
As World expands its digital identity ambitions, the Thai raid marks another significant legal hurdle, testing the project’s ability to balance innovation with regulatory compliance across diverse markets.