Worldcoin Faces Potential UK Data Regulators Inquiry Shortly After Launch, Report Reveals

Worldcoin, the recently launched crypto and ID project, is facing potential inquiries from data regulators in the United Kingdom, raising concerns about privacy and the safety of critical biometric data. According to a report by Reuters, the Information Commissioner’s Office (ICO), the UK’s data regulatory body, has taken note of Worldcoin’s launch in the country and intends to scrutinize the project further to ensure compliance with data laws.

When questioned about the reported investigation into Worldcoin, the ICO declined to comment, stating that no official announcement had been made regarding their inquiry into the project. A spokesperson for the regulator emphasized that until any confirmation is made, they cannot provide further information.

Worldcoin, a crypto project centered around digital identification, was co-founded by Sam Altman, CEO of OpenAI, and made its debut on July 24. The project secured $115 million in funding in May from investors like Andreessen Horowitz, Bain Capital Crypto, and Distributed Global. Despite attracting over 2 million users during its beta phase, Worldcoin faced criticism due to concerns about its approach to onboarding users, with a study by MIT Technology Review suggesting that the majority of the first one million users were acquired through deceptive methods and cash incentives in developing countries.

The project’s handling of users’ biometric data and privacy issues have also garnered negative attention within the crypto community. As a consequence, Worldcoin’s native token WLD will not be launched in the United States, with major US-based exchanges like Coinbase and Kraken opting not to list it due to regulatory concerns. Some crypto advocates even assert that the project may qualify as an unregistered security under US regulations.

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