Portugal Suspends Worldcoin's Facial Scan Crypto Over Privacy Concerns
March 26, 2024Portugal's CNPD has imposed a 90-day suspension on Worldcoin's project over concerns of unauthorized biometric data collection from minors and inadequate information for data subjects.
The Worldcoin project, which exchanges cryptocurrency for facial scans, has enlisted over 4.5 million participants globally, including 300,000 in Portugal.
Worldcoin asserts compliance with legal standards and has introduced 'Personal Custody' for user data control amid regulatory challenges in multiple European countries.
Despite the regulatory suspension in Portugal, Worldcoin's native token, WLD, has seen a price increase, trading at $9.43 with expectations of resistance at the $9.5 mark.
The company's Europe operations manager has expressed a willingness to cooperate with authorities and a commitment to addressing the issues identified by the CNPD.
Summary based on 16 sources
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Sources
TechCrunch • Mar 26, 2024
Worldcoin hit with another ban order in Europe citing risks to kids | TechCrunchYahoo News • Mar 26, 2024
Worldcoin hit with another ban order in Europe citing risks to kidsCointelegraph • Mar 26, 2024
Portuguese data regulator bans Worldcoin operations for 90 daysSlashdot • Mar 26, 2024
Portugal Orders Altman's Worldcoin To Halt Data Collection - Slashdot