Indonesia Suspends Worldcoin Operations Over Alleged License Violations

Indonesia’s Ministry of Communication has halted Worldcoin operations due to concerns about the company’s licensing practices and data handling, citing regulatory violations as the reason. Local authorities have stressed the importance of compliance with regulations, emphasizing gaps in Worldcoin’s license usage. This action underscores challenges regarding regulatory frameworks in emerging markets, impacting both local services and Worldcoin’s token prices, which saw a 5% drop immediately following the suspension.