Indonesia Suspends Worldcoin and WorldID Over Legal Violations

By: cryptosheadlines|2025/05/05 16:45:01
0
Share
copy
Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com Following the detection of activities suspected of violating regulations, Indonesia has temporarily banned the Electronic System Organizer Registration Certificate (TDPSE) of World (previously Worldcoin) and WorldID services.This decision stems from a preliminary investigation and shows the importance of legal compliance in emerging markets like Indonesia.Indonesia Suspends WorldIndonesia’s Ministry of Communications and Digital Affairs (Komdigi) announced the suspension of Worldcoin and WorldID operations. Komdigi’s investigation uncovered serious violations in these services’ operations for two reasons.Firstly, the company allegedly responsible for operating Worldcoin in Indonesia is PT Terang Bulan Abadi. As Indonesian law requires, Terang Bulan Abadi failed to register as an Electronic System Operator (PSE) and lacked the necessary TDPSE certification for legal operations.Secondly, Worldcoin’s services were found to be using the registration certificate of another legal entity, PT. Sandina Abadi Nusantara. This constitutes a significant violation of transparency and legal accountability regulations.According to Alexander Sabar, Director General of Digital Space Supervision, this suspension was prompted by community reports of suspicious activities. Komdigi stated it would summon representatives from the companies involved to clarify allegations and address violations, based on Government Regulation No. 71 of 2019 on Electronic Systems and Transactions and Ministerial Regulation No. 10 of 2021.“This freezing is a preventive measure to prevent potential risks to the community. We will also summon PT. Terang Bulan Abadi for official clarification in the near future,” said Alexander SabarWorldcoin (rebranded World) is a blockchain project co-founded by Sam Altman, CEO of OpenAI. It aims to create a global digital identity system called WorldID. The project uses the Orb device to scan users’ irises, generating unique biometric identifiers and rewarding users with Worldcoin tokens (WLD). Worldcoin will bring biometric identity verification to six US cities and plans to distribute 7,500 Orbs nationwide. Despite its ambition to build a promising decentralized identity verification system, Worldcoin has faced controversies worldwide. Indonesia’s Legal EnvironmentIndonesia is developing a legal framework for digital activities, particularly cryptocurrency and blockchain. The Personal Data Protection Law (PDP), enacted in 2022, sets strict standards for collecting and using personal data, including biometrics.PSE regulations require all digital service providers to register with Komdigi and comply with security standards. The Commodity Futures Trading Regulatory Agency (Bappebti) oversees cryptocurrency activities and mandates regular reporting from exchanges and projects. The Worldcoin case is part of Komdigi’s efforts to safeguard the national digital space.Indonesia’s suspension of Worldcoin and WorldID serves as a clear warning that legal compliance and user privacy protection are non-negotiable amid the cryptocurrency industry’s rapid growth. Projects like Worldcoin must ensure transparency in operations and data handling to build trust with users and regulators. Projects involving sensitive data like biometrics need to invest in security measures and clear communication to address community concerns.WLD price is down 0.56% in the last 24 hours, currently at $0.9477.DisclaimerIn adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.Source link

You may also like

March 4th Market Key Intelligence, How Much Did You Miss?

1. On-chain Flows: $39.6M USD inflow to Hyperliquid today; $29.7M USD outflow from Base 2. Largest Price Swings: $EDGE, $POWER 3. Top News: Altman defends Pentagon deal at all-hands, calls backlash "really painful"; OpenAI also seeking NATO contracts

Taking Stock of Crypto's Washington Power Players: Who is Advocating for US Crypto Regulation?

These institutions have jointly defined the industry's underlying values, marking the U.S. crypto industry's shift to a "professionalized, ecological, and refined" era of policy gamesmanship.

DDC Enterprise Limited Announces 2025 Unaudited Preliminary Financial Performance: Record Revenue Achieved, Bitcoin Treasury Grows to 2183 Coins

On March 4, 2026, DDC Enterprise Limited (NYSE American: DDC) today announced preliminary, unaudited full-year financial performance for the year ended December 31, 2025. The company expects to achieve record revenue and record positive adjusted EBITDA, primarily driven by continued growth in its core consumer food business and overall margin improvement. The final audited financial report is expected to be released in mid-April 2026.


2025 Full-Year Financial Highlights


Revenue: Expected to be between $39 million and $41 million, reaching a new company high.


Organic Growth: Excluding the impact of the company's strategic contraction of its U.S. operations, core revenue is expected to grow 11% to 17% year over year.


Gross Profit Margin: Expected to be between 28% and 30%, reflecting continued operational efficiency improvements.


Adjusted EBITDA: The company expects to achieve a positive full-year result in 2025, a significant improvement from a $3.5 million loss in 2024, mainly due to rigorous cost controls and a higher-margin sales mix.


Core Consumer Food Business Performance


In 2025, DDC's core consumer food business maintained strong operational performance.


The company also disclosed Core Consumer Food Business Adjusted EBITDA, a metric that further excludes costs related to its Bitcoin reserve strategy and non-cash fair value adjustments related to its Bitcoin holdings from adjusted EBITDA to more accurately reflect the core business performance.


In 2025, Core Consumer Food Business Adjusted EBITDA is expected to be between $5.5 million and $6 million.


Bitcoin Reserve Update


In the first half of 2025, DDC initiated a long-term Bitcoin accumulation strategy, holding Bitcoin as its primary reserve asset.


As of December 31, 2025: The company holds 1,183 BTC.


As of February 28, 2026: Holdings increased to 2,118 BTC


Today's additional purchase of 65 BTC brings the company's total holdings to 2,183 BTC


DDC Founder, Chairman, and CEO Norma Chu stated, "We are proud to have closed 2025 with record revenue and positive adjusted EBITDA, demonstrating the steady growth of the company's consumer food business and the ongoing improvement in profitability. We are building a disciplined, growth-oriented food platform and strategically allocating capital to Bitcoin assets with a long-term view, aligning with our core beliefs. We believe that this dual-track model of 'Steady Consumer Business + Strategic Bitcoin Reserve' will help DDC create lasting long-term value for shareholders."


Adjusted EBITDA Definition
For the full year 2025, the company defines "Adjusted EBITDA" (a non-GAAP financial measure) as: Net income / (loss) excluding the following items:· Interest expense· Taxes· Foreign exchange gains/losses· Long-lived asset impairment· Depreciation and amortization· Non-cash fair value changes related to financial instruments (including Bitcoin holdings)· Stock-based compensation


About DDC Enterprise Limited


DDC Enterprise Limited (NYSE: DDC) is actively implementing its corporate Bitcoin Treasury strategy while continuing to strengthen its position as a leading global Asian food platform.


The company has established Bitcoin as a core reserve asset and is executing a prudent, long-oriented accumulation strategy. While expanding its portfolio of food brands, DDC is gradually becoming one of the public company pioneers in integrating Bitcoin into its corporate financial architecture.


Uncovering YZi Labs 229 Investment: Over 18% of the portfolio is already inactive, with an average project transparency score of 78

In terms of strategic direction, YZi Labs has begun to extend into areas such as AI and stablecoins, but overall it is still in the layout and validation stage.

The business of crypto VC is becoming promising

Homogenized industries are ultimately fragile; only when different species can emerge does the market truly come alive.

China's AI Compute Power Counterstrike

The cost itself is the progress.

Popular coins

Latest Crypto News

Read more