The Hong Kong government has ruled that Worldcoin’s operations in the region violate the Privacy Ordinance, leading to an enforcement notice that demands the cessation of its iris scanning activities.
Worldcoin has confirmed that it conducted facial and iris scan authentication on 8,302 people in Hong Kong.
Worldcoin’s troubles extend beyond Hong Kong. Following similar complaints about the project’s data collection techniques, South Korea has launched an investigation.
Additionally, both Portugal and Spain have requested that Worldcoin halt its biometric data collection activities. These actions reflect the broader challenges Worldcoin is encountering globally.
WorldCoin WLD Token Price Action To Monitor
The $WLD token has been in a continuous decline, dropping by 40.5% over the past 90 days, including a 4% decrease in just the past 24 hours. The global pushback against Worldcoin’s methods underscores the significant hurdles the project faces as it attempts to navigate complex privacy regulations and maintain trust among users.
The Hong Kong government ruled that Worldcoin's operations in Hong Kong violated the Privacy Ordinance and has issued an enforcement notice requiring it to stop using iris scanning devices. Worldcoin confirmed that it conducted facial and iris scan authentication on 8,302 people…
— Wu Blockchain (@WuBlockchain) May 22, 2024
Worldcoin’s situation illustrates the increasing scrutiny tech projects face regarding personal data collection and privacy. With governments worldwide becoming more vigilant, projects that rely heavily on biometric data must ensure they comply with local regulations to avoid severe repercussions.
In Hong Kong, the enforcement notice serves as a stark reminder of the importance of adhering to privacy laws. The Privacy Ordinance is designed to protect individuals’ personal data, and any violation can lead to significant operational disruptions and legal challenges. Worldcoin’s experience in Hong Kong may serve as a precedent for other jurisdictions considering similar actions.
As Worldcoin grapples with these issues, the continued decline in the $WLD token’s value reflects investor concerns over the project’s future. For Worldcoin, addressing these privacy concerns and adapting to the regulatory landscape will be crucial steps in restoring confidence and ensuring long-term viability.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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