The U.K. data protection watchdog, the Information Commissioner's Office (ICO), has targeted Worldcoin in its recent cryptocurrency investigation. With a special emphasis on its respect to data protection regulations, the ICO intends to investigate the cryptocurrency's operations. Co-founded by OpenAI’s CEO Sam Altman, Worldcoin, is a newcomer to the crypto market. With its ambitious intentions to …
The U.K. data protection watchdog, the Information Commissioner’s Office (ICO), has targeted Worldcoin in its recent cryptocurrency investigation. With a special emphasis on its respect to data protection regulations, the ICO intends to investigate the cryptocurrency’s operations.
Co-founded by OpenAI’s CEO Sam Altman, Worldcoin, is a newcomer to the crypto market. With its ambitious intentions to offer every individual on the planet with a unique, verifiable digital identity, this has highly piqued regulators’ interest in the coin. Given the inherent privacy problems, it’s no surprise that the ICO wants to guarantee Worldcoin follows all applicable legislation. This investigation shows the growing need in the crypto central for solid data protection techniques.
According to CNBC, the response from Worldcoin was as such:”The Worldcoin Foundation complies with all applicable laws and regulations governing the processing of personal data in markets where Worldcoin are made available, including the General Data Protection Regulation and the UK Data Protection Act.” Worldcoin was created with intention of protecting individual privacy. Adopting to a privacy-based design, the project has include a rigorous Data Protection Impact Assessment and quick responses to individual requests to erase their personal data.
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