The Securities Commission Malaysia (SC), the country’s regulatory authority, has granted approval for the trading of the Worldcoin (WLD) token on digital asset exchanges recognized by the SC.
This approval was announced by Malaysia-based digital business solutions provider Cuscapi, stating that its associate company MX Global received the authorization on May 9 to facilitate trading of the WLD token.
In March 2022, MX Global had secured an unspecified equity investment from cryptocurrency exchange Binance.
The WLD token now joins the list of permitted digital assets for trading in the country, becoming the 14th token to receive such approval. Notable tokens already permitted for trading include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Polygon (MATIC), and Solana (SOL).
The announcement follows a meeting between Worldcoin executives and top Malaysian officials a month ago, where discussions centered on the token’s strategic expansion. Alex Blania, the lead developer of Worldcoin and co-founder/CEO of Tools of Humanity, attended the meeting with key Malaysian government leaders.
Before the physical meeting, both Blania and OpenAI CEO Sam Altman held a 30-minute virtual discussion with the Malaysian government via video conference, covering various aspects related to rapid technological development.
According to a post by Malaysian President Anwar Ibrahim, Altman and Blania provided insights into the development of the Worldcoin project during the meeting. They emphasized the project’s aim to establish a global and inclusive financial network while prioritizing confidentiality.
Despite its approval in Malaysia, the Worldcoin initiative has raised privacy concerns in several nations. In March, Portugal’s data oversight authority, CNPD, directed WLD to halt biometric data collection for 90 days, citing significant risks to citizens’ data protection rights.
However, Ethereum co-founder Vitalik Buterin holds a different perspective on the matter. He recently acknowledged Worldcoin’s efforts to safeguard user data privacy, noting that Sam Altman has taken privacy critiques seriously and implemented cryptographic measures to ensure data confidentiality.
“In my opinion, they have actually been doing quite a good job of addressing privacy concerns,” Buterin commented.