by 
In a recent notice, the Capital Markets Authority (CMA) expressed concern over the ongoing Worldcoin-related registration of the public, where individuals are being promised free crypto-tokens.
The CMA clarified that Worldcoin is not regulated in Kenya and its related products, including crypto-tokens, are not considered investment products under the Capital Markets Act, thus not under the CMA’s regulatory purview.
The CMA advises the public to be cautious of potential fraudulent schemes that may arise in the over-the-counter market for crypto-tokens. While recognizing the importance of Fintech and blockchain technology, the Authority is open to collaborating with interested parties through the Regulatory Sandbox model to support innovative Fintech products in a controlled and safe environment for investors.
The CMA emphasizes the need for the public to avoid dealing with unregulated entities and products to protect their investments.
