"Indonesia Suspends Worldcoin (WLD) Business License"

Son Min

Summary

Indonesian authorities have announced the suspension of Worldcoin's (WLD) business license.
Local operating companies are reportedly facing allegations of violating electronic system operation regulations.
The license suspension was implemented as a proactive measure to prevent potential risks to the public.

Indonesian authorities have reportedly suspended the business license of Worldcoin (WLD).

According to The Block on the 5th (local time), the Indonesian Ministry of Communication and Digital announced in a statement, "We have suspended Worldcoin's business license due to alleged violations of electronic system operation regulations," and added, "We plan to summon the local operating companies 'PT. Trang Bulan Abadi' and 'PT. Sandina Abadi Nusantara' to demand explanations regarding the allegations."

The investigation revealed that 'PT. Trang Bulan Abadi' is accused of operating without registering as an electronic system operator and without a license. It is also known to have operated the Worldcoin project by misusing the name of another corporation.

Alexander Sabar, Director of Indonesia's Digital Supervision Bureau, stated, "Failure to fulfill registration obligations and providing services under a misused corporate name constitute serious violations," adding, "This license suspension is a proactive measure to prevent potential risks to the public."

WLD