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Portugal Temporary Banned Worldcoin
03/27/2024

Portugal Temporary Banned Worldcoin

03/27/2024
4,1

The company reports that a Portuguese regulator has banned Worldcoin from collecting biometric data for 90 days. The WLD coin registered a 5.6% drop.

Portugal's regulator, the CNPD, has ordered Sam Altman's project, Worldcoin, to temporarily stop collecting biometric data from citizens of that country, citing risks of violating human rights to data protection. So far, more than 300,000 Portuguese citizens have provided Worldcoin with their data. 

The regulator also said it received dozens of complaints last month alone about Worldcoin's inadequate provision of information to its users, failure to withdraw consent to use or inability to erase their data, and unauthorized collection of underage data. 

Meanwhile, Worldcoin representatives said it was the first time they had heard of something like this and assured that they comply with all laws and regulations governing the collection and transfer of biometric data. Earlier, the project said it would hand over control over personal data to users. 



The regulator's decision is a measure that will remain in place until the investigation is completed. Earlier in March, Spain's data protection regulator also imposed a three-month ban on Worldcoin due to similar complaints, and Kenya banned the company last summer. Investigations are also underway in several other countries such as Brazil, India, France, Germany, the UK, and Hong Kong.

Worldcoin is using blockchain to create a global digital identification system called World ID. This system, similar to a digital passport, uses a device called "Orb" to scan a user's iris. In exchange for the data, users receive a WLD token. 

Speaking of which, WLD reacted to the regulator's decision by falling 5.6% in the last 24 hours. 


 


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The materials found on the Cryptonica website shall not be taken as individual investment recommendations. The financial instruments or operations mentioned therein may not align with your investment profile or objectives. We assume no responsibility for any missing facts or inaccurate information in the texts. Cryptocurrencies are financial assets with high risk and volatility. Therefore, it is crucial that you conduct your own research on financial instruments and make independent decisions. Before engaging in any actions related to cryptocurrency, you shall study, understand, and comply with the laws applicable in your region and country.

Sam Altman


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