Worldcoin 'disappointed' with Hong Kong ban as WLD drops 8%
Worldcoin's WLD token fell 8% following regulatory issues in Hong Kong.
The Worldcoin Foundation expressed disappointment over Hong Kong authorities' decision to ban its data collection efforts due to alleged privacy violations, according to a May 23 statement.
On May 22, the Office of the Personal Data Privacy Commissioner (PCPD) of Hong Kong stopped Worldcoin's data collection activities in the region.
The PCPD claimed that Worldcoin's collection of facial and iris images from more than 8,000 Hong Kong residents was unnecessary and excessive. Additionally, the regulator accused Worldcoin of failing to provide adequate information to users, thereby compromising their ability to give informed consent.
Legal operation
A Worldcoin spokesperson affirmed the project's commitment to legal compliance, including compliance with the Hong Kong Personal Data Ordinance and similar regulations around the world.
The spokesperson further emphasized that Worldcoin aims to set high standards of privacy protection in preparation for the AI era. The project achieves this through minimal data collection, user control over data, advanced technological measures such as personal data escrow, iris code selection, and secure multi-party computing.
Consequently, Worldcoin expressed disappointment that Hong Kong regulators did not consider these privacy developments before imposing a ban on the project.
Meanwhile, Worldcoin's dissatisfaction reflects its reaction to Spain's data protection agency, which also blocked the Sam Altman-backed company's data collection efforts. While Worldcoin hinted at possible legal action against Spain, it did not specify whether it would implement similar measures against Hong Kong.
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