Worldcoin, the high-tech cryptocurrency initiative supported by Sam Altman, might soon find itself under the scrutiny of data protection regulators in the UK.
The development comes in the wake of on Monday. The Information Commissioner’s Office, responsible for upholding information rights and data privacy in the UK, conveyed to Reuters:
“We are aware of Worldcoin’s launch in the UK and will be making further enquiries.”
Worldcoin’s distinctiveness lies in its innovative, orb-shaped cameras, or ‘orb stations’, which capture iris images to distinguish humans from AI online. Worldcoin assures users that this process maintains their privacy. As a trade-off for their biometric data, users receive a unique ‘WorldID’ and the native Worldcoin cryptocurrency at no charge.
Worldcoin’s Market Debut and Regulatory Challenges
Renowned crypto platforms such as Binance, Huobi, and OKX have included Worldcoin (WLD) in their listings. On its launch day, WLD surged to a peak of $3.30. However, the initial euphoria proved short-lived as the token dipped more than 35%, dropping to $2.10 the following day.
Despite launching in 35 cities across 20 countries on Monday, Worldcoin chose to steer clear of the US due to regulatory uncertainties and potential misuse of cryptocurrencies. In response to its digital ID and cryptocurrency’s availability, Worldcoin expressed optimism, stating, “We hope that in regions with unclear regulations, like the US, measures will be taken so more people can benefit.”
Co-founder Alex Blania, in an interview with Bankless, mentioned that the specifics of the token’s distribution remain undisclosed due t
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Author: Vince Dioquino