Raid in Thailand: Global digital asset businesses under attack!

Raid in Thailand: Global digital asset businesses under attack!

Thai authorities have launched a powerful crackdown on unlicensed digital asset transactions. On October 24, 2025, the Securities and Exchange Commission (SEC) and the Cyber ​​Crime Investigation Bureau (CCIB) raided the offices of World, a company that conducts business using biometric iris scans despite lacking permits. The SEC is convinced that World is violating the emergency decree on digital asset operations B.E. 2561 (2018), Section 3, violates because it does not have a necessary license to conduct a digital asset business. This carries penalties of up to 5 years in prison and fines of 500,000 baht (approximately $15,318) under Section 66 of the Laws. In addition, further fines of 10,000 baht per day may be imposed if World continues its activities, such as biometricupdate.com reported.

The suspicion of twisting sausages is not unfounded: During the search, the process of biometric iris scans to verify the World ID was even pointed out. Each participant receives a small amount of WLD as “proof of humanity”, which creates a supposed incentive. However, the SEC and other mouthpieces strongly warn that citizens should be cautious about using Worldcoin, World's platform cryptocurrency. A government spokesman added that people “shouldn’t just hand over such biometric data for a small reward” – there’s something there!

Raid and international contexts

But this raid is not just a local phenomenon. A week ago, Colombia also demanded that World cease its operations due to data protection violations. In the Philippines, the company is fighting an order that would stop the collection of iris biometrics by developer Tools for Humanity. These challenges are part of a larger problem that concerns many countries when it comes to combining blockchain technology and biometric data, such as ainvest.com reported.

The increasing number of such scandals and growing regulatory attention highlight the challenges faced by companies that rely on innovative technologies. The Thai raid could set a precedent for oversight of biometrics-based crypto projects in Southeast Asia. At a time when digital security is increasingly under the spotlight, companies must ensure they comply with legal requirements and respect users' rights while conducting their business.

Biometric data and data protection

An often overlooked but critical issue related to the use of biometric data is data protection. Professor Christiane Wendehorst from the University of Vienna explains that biometric data is used in many areas of life, but there is often a lack of transparency about what happens to this data after consent. Wendehorst highlights that the General Data Protection Regulation (GDPR) classifies biometric data as particularly worthy of protection, which means that companies are subject to strict regulations in order to process this data. This brings with it challenges, especially when it comes to the question of explicit user consent, such as via onlinesicherheit.gv.at is explained.

Consumers have the right to revoke their consent to the use of biometric data at any time and to request that this data be deleted. Given these current developments in Thailand, it is more important than ever for consumers to carefully consider who they trust with their biometric material. Awareness of your own rights and the risks associated with unlicensed data use is crucial.