🚨Crypto News Alert!🚨 The Worldcoin project, known for its controversial practices, has hit another roadblock. Hong Kong's privacy regulator, the Office of the Privacy Commissioner for Personal Data (PCPD), has ordered a halt to all Worldcoin operations in the region. Why? The PCPD claims Worldcoin's practices violate local privacy regulations. 😱

The PCPD revealed that Worldcoin collected facial and iris biometric data from over 8,300 individuals during its Hong Kong operations. After conducting covert inspections, the agency deemed such extensive data collection as "unnecessary and excessive", violating Hong Kong's privacy laws.🕵️‍♂️

Worldcoin's plan to retain personal data for a maximum of 10 years to train AI models for user verification was also criticized. The PCPD suggested there are "less privacy-intrusive" alternatives to prove humanness.🧐

But wait, there's more! Hong Kong isn't the only region raising eyebrows at Worldcoin. The project has faced similar issues in South Korea, Spain, and Portugal. However, not everyone is against Worldcoin. Billy Luedtke, CEO of a decentralized identity startup, commends the project for addressing the challenge of verifying human presence in an online world.🌐

So, what does this mean for crypto? Jerry Li, CEO of Artela Network, views Hong Kong's halt on Worldcoin as indicative of its stringent stance on crypto regulation, particularly concerning data privacy. This could set a precedent in the APAC region, pushing other crypto projects to prioritize data privacy. But don't worry, crypto enthusiasts! Li assures that Hong Kong is not hostile towards cryptocurrencies.👍

Stay tuned for more updates! 🚀🌕