Altcoin Worldcoin is the most popular crypto money project in recent days. Turks also show great interest. On the other hand, there are two separate investigations for the altcoin. Let’s look at the details.
ICO announces investigation into altcoin Worldcoin
Today, the UK Information Commissioner (ICO) made an announcement that sparked a backlash in the crypto community. The ICO has announced its plan to launch a comprehensive investigation into the project altcoin Worldcoin, founded by OpenAI CEO Sam Altman.
The ICO spokesperson states that they will closely monitor the launch of altcoin Worldcoin in the UK. He also emphasizes that they will do more research to ensure that the project adheres to clear legal grounds for processing personal data. The spokesperson also points out that this consent should be given freely based on consent. On the other hand, he emphasizes the importance of canceling the transaction without any damage when requested.
The Worldcoin Foundation’s assurance of privacy rules
Responding to the ICO’s investigation, the Worldcoin Foundation reaffirmed its commitment to strict privacy rules. A spokesperson for the company assured that they are working diligently to comply with local laws and regulations, including the European General Data Protection Regulation (GDPR) regarding biometric data collection and transfer.
Worldcoin’s native cryptocurrency altcoin WLD experienced fluctuations in trading performance as the reviews continued. After being listed on Binance, the token initially rose to $5. However, it is currently trading at $2. Accordingly, when we look at cryptokoin.com, it reflects the reaction of the market to the investigation.
Controversy escalates as Worldcoin faces biometric data probe in France
Worldcoin’s collection of biometric data is causing global concern. Cryptocurrency project altcoin Worldcoin, known for its controversial biometric data collection method, is facing scrutiny from various countries. We mentioned above that the first review was done by the UK. Now, another European country has opened an investigation. After the UK, France’s personal data protection board, CNIL, expressed its concerns about Worldcoin’s biometric data collection practices. The organization questioned the legality of the project. It also confirmed that an investigation has been launched into altcoin Worldcoin’s data collection activities within the country.
There are investigations into altcoin projects. It is crucial to ensuring the integrity, security and compliance of the rapidly evolving digital asset space. The cryptocurrency industry continues to attract the attention of regulators, law enforcement and investors. Accordingly, investigations are important to prevent potential fraudulent activities. It also plays a crucial role in detecting market manipulation or other illegal practices.
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