World Still Not Off the Hook: Thai SEC Raids Iris Scanning Hub Over WLD Token Breach

Core Points - Thailand's SEC and CCIB have conducted a raid on a Worldcoin-linked iris scanning center in Bangkok, arresting suspects for operating an unlicensed digital asset exchange [1][2] - The operation is part of a broader crackdown on unregulated crypto services in Thailand, particularly in light of global scrutiny surrounding Worldcoin's biometric identity system [1][6] Regulatory Actions - The SEC found that the iris scanning hub was providing "WLD exchange services" without the necessary authorization under the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018) [2] - Arrests were made under Section 26 of the decree, which prohibits operating digital asset businesses without a license, with penalties outlined in Section 66 [3] Law Enforcement Objectives - The operation aims to protect users from potential scams and prevent money laundering through unregulated crypto exchanges [3][4] - SEC Deputy Secretary-General Jomkwan Kongsakul emphasized that this collaboration enhances law enforcement's effectiveness in prosecuting unlicensed digital asset businesses [4] Surveillance and Warnings - The raid followed weeks of surveillance by the SEC's monitoring unit, which has been tracking multiple unlicensed operators across Thailand [5] - The SEC had previously issued warnings against exchanging WLD tokens with unlicensed providers and urged the public to verify operator licenses [5] Worldcoin Overview - Worldcoin, now rebranded as World Network, was launched in 2023 by OpenAI CEO Sam Altman and Alex Blania as a biometric identity verification project [6] - The project rewards users with WLD tokens for verifying their "humanness" through iris scans, using a device known as the Orb to capture iris images [6]