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Argentinian Regulator Investigates Worldcoin

The Agency for Access to Public Information in Argentina adds to the list of government bodies globally investigating Worldcoin over privacy concerns

Argentinian Regulator Investigates Worldcoin

Argentina’s Agency for Access to Public Information (AAIP) announced it was investigating how Worldcoin collects, stores and uses customer data to ensure it complies with local security and privacy regulations.

“Citizens have the right, whenever personal data is provided, to have clear and accessible information in relation to the assignment, use and purpose for which the data is collected and processed, especially with regard to sensitive data, such as biometric data,” said the AAIP.

Worldcoin – the cryptocurrency project of OpenAI founder Sam Altman – uses iris-scanning technology for a worldwide identification system that would allegedly let people securely and simply access crypto services, and distinguish humans from AI bots online.

In late July, Worldcoin started the global rollout of its services. The new concept quickly gained traction, amassing over one million wallets and over two millions iris-scans. Besides, The Worldcoin’s network token started trading at major global crypto exchanges, including Binance, Huobi, Bybit and OKX.

At the same time, a number of global regulators started questioning the privacy policies of the new crypto ecosystem that collects and stores sensitive biometric data.

In Kenya, the Ministry of Internal Affairs suspended the use of Worldcoin due to a government investigation.

The British agency, Information Commissioner’s Office (ICO) of the UK, has also stated that it would approve the launch of the cryptocurrency only after additional investigation.

The US regulators didn’t allow to launch the new cryptocurrency in the country either, stating that there is no legal certainty about the token.

Germany’s Bavarian State Office for Data Protection Supervision also announced an investigation of Worldcoin over privacy concerns.

Meanwhile, the French National Commission on Informatics and Liberty called the project’s data collection methods “questionable.”

Nina Bobro

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Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.