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Breaking News: Bitcoin Reaches Forecasted All-Time High: Prophecy Predicts Bear Market Low In 364 Days

Worldcoin (WLD) 12% Rally Hits A Snag: Portugal Demands Halt To Biometric Data Collection

Ronaldo Marquez
Ronaldo Marquez
1 year ago
3 mins read
Worldcoin

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In a recent development, Portugal’s data regulator, the National Commission for the Protection of Data, also known as the CNPD, has issued an order to stop Sam Altman’s iris scanning project, Worldcoin, from collecting biometric data for 90 days. 

Worldcoin’s Compliance Under Fire

According to a Reuters report, the CNPD’s suspension specifically targets the Worldcoin Foundation, a memberless entity based in the Cayman Islands, described on its website as the sole member and director of World Assets Ltd, a company registered in the British Virgin Islands responsible for issuing Worldcoin tokens to sign-up participants.

The CNPD cited an alleged “high risk” to citizens’ data protection rights as the main reason for its urgent intervention. The regulator expressed concerns about the “unauthorized” collection of data from minors, the lack of information provided to data subjects, and the inability to delete data or withdraw consent. 

The halt order also noted that over 300,000 individuals in Portugal had provided their biometric data to Worldcoin, leading to numerous complaints being lodged with the CNPD.

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Jannick Preiwisch, the data protection officer at the Worldcoin Foundation, responded to the CNPD’s order by stating that Worldcoin is “fully compliant” with all laws and regulations about biometric data collection and transfer. Preiwisch emphasized the company’s zero-tolerance policy for underage sign-ups and its commitment to addressing any reported incidents.

Worldcoin has recently transitioned to “Personal Custody,” aiming to give users control over their data, including options for deletion and future use. The CNPD’s order to stop data collection is considered temporary, allowing for additional due diligence and analysis of complaints during the ongoing investigation.

Privacy Storm Engulfs Worldcoin

The Regulatory scrutiny of Worldcoin extends beyond Portugal. As NewsBTC reported, Spain’s data protection watchdog issued a three-month ban earlier this month in response to privacy complaints, and Kenya suspended Worldcoin’s operations in August 2023. 

Moreover, the Bavarian State Regulatory Authority, acting as the lead authority in southeastern Germany, is currently investigating Worldcoin under European Union data protection rules due to the presence of a German subsidiary owned by Tools For Humanity, the company behind Worldcoin.

As the investigation into Worldcoin’s data collection practices continues, the project faces significant challenges in addressing regulatory concerns and maintaining public trust in its ambitious vision. According to its website, the project claims to have garnered over 4.5 million sign-ups from individuals in 120 countries.

Regulatory Hurdles Fail To Dampen WLD’s Performance

Despite the recent regulatory challenges faced by Worldcoin, the decentralized cryptocurrency has managed to maintain its gains of 12% over the past seven days. After reaching an all-time high (ATH) of $11.95 on March 10, the project’s native token, WLD, experienced a sharp drop to $7.24 but has since recovered.

Currently trading at $9.01, WLD has capitalized on the overall market rebound and its seven-day uptrend, surging by almost 9% in the past 24 hours. 

The trading volume for WLD in the last 24 hours is $416,136,329, indicating a significant 65.10% increase compared to the previous day, suggesting renewed interest in the token.

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Looking ahead, the $9.5 level is expected to provide the nearest resistance for the WLD token, followed by the $10.14 mark, should the rally continue. On the downside, the $8.36 level is the closest support on the daily chart. 

In a potential downtrend, failure to hold this support level could decline toward the $8 mark, with the next significant resistance at $7.93.

Worldcoin
The daily chart shows WLD’s price trending upwards. Source: WLDUSD on TradingView.com

Featured image from Shutterstock, chart from TradingView.com

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Ronaldo Marquez
Ronaldo Marquez

Ronaldo Marquez

Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies.

Read more

Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology.

Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry.

One of Ronaldo's defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision.

Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities.

Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth.

However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape.

Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge.

With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

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