This week’s highlights in the African cryptocurrency landscape include significant developments:

Kenya Crypto Update: Worldcoin Commanded to Delete Biometric Information

A Kenyan court has mandated that Worldcoin, spearheaded by Sam Altman, must erase the user biometric information it collected. This ruling follows extensive scrutiny from the government regarding Worldcoin’s operations, especially due to its controversial retina-scanning method employed to provide users free cryptocurrency. The judgment, delivered by Judge Rose Aburili, determined that the collection of such data contravened Kenya’s data protection laws, indicating that offering free cryptocurrency amounted to coercive inducement, thus negating informed consent.

Worldcoin

CBEX Seeks Restoration

The widely scrutinized crypto exchange, CBEX, is making efforts to restore user confidence following a tumultuous period marked by operational issues raising scam fears. Authorities in Nigeria have indicted eight individuals, including four from Kenya, suspected to be associated with the platform’s irregularities. CBEX’s new withdrawal protocols have ignited further controversy, requiring users with deposits exceeding $1,000 to pay a withdrawal fee of $100, an approach viewed with skepticism.

‘CBEX Crashed? Someone has $89,000 locked inside the platform and he has been inconsolable since then.’ – ABODE (@iamAbode) (Translated: This situation highlights the level of awareness and acceptance of such risks among users in my country.)

Nigeria’s New Blockchain Partnership

Meanwhile, fintech companies Accelerex and ITEX have joined forces with the Zone blockchain, which aims to modernize payment systems and reduce transaction failures. This collaboration is expected to harness the blockchain’s scalability to enhance the efficiency of payment processes in Nigeria.

For more insights, follow ongoing discussions and trends in the African cryptocurrency arena.