Governor Thugge: Why CBK Can’t Confirm Worldcoin Transaction Amounts

The Central Bank of Kenya (CBK) does not have information regarding the amount of funds involved in transactions related to the Worldcoin cryptocurrency project.

This is according to CBK Governor Kamau Thugge, who appeared before the National Assembly Ad Hoc Committee of Inquiry into the controversial crypto project.

Governor Thugge was responding to a query posed by Kisumu East MP Shakeel Shabbir, who claimed that two Kenyans had acquired shares in the amount of Sh1.4 billion ($10 million) each from Worldcoin.

Shakeel further mentioned that the funds were wired into the country through the Mpesa mobile payment system.

But Thugge explained that CBK lacks the capacity to oversee foreign exchange transactions occurring within commercial banks. He also reiterated that the CBK does not have oversight over Mpesa transactions.

“We are not aware of this because it takes place within the banking system and not with the CBK,” he said.

Adding: “There are a lot of transactions in dollars such that it is very difficult to see the $10 million (Sh1.5 billion) in such a large market.”

Governor Thugge informed the committee that the CBK had no information about Worldcoin’s operations within the country and had not been involved in the licensing or approval of Worldcoin’s proprietors

The post Governor Thugge: Why CBK Can’t Confirm Worldcoin Transaction Amounts appeared first on Nairobi Wire.

Share with Your Friends