Colombian Regulator Accuses Worldcoin of Alleged Personal Data Breach
2024-08-23
Bittime - Colombia's regulator, the Bureau of Industrial and Commercial Supervision (SIC), accused Worldcoin and Tools for Humanity of violating personal data protection. Here's the description!
Colombian Regulator Accuses Worldcoin
According to the latest report from DeepChao TechFlow, Colombia's Industrial and Commercial Inspection Bureau (SIC) has declared that Worldcoin and the company behind it, Tools for Humanity, have violated personal data protection systems.
These allegations come after previous reports that decentralized identity project Worldcoin allegedly violated applicable data protection regulations.
Colombian Regulatory Actions
If Worldcoin is found to have violated data protection laws, SIC has warned that it could potentially face severe sanctions.
The sanctions can include large financial fines or temporary closure of operations for six months, if violations are proven to be serious.
Read Also: ALPACA Successfully Breaks the Price of $0.24
International Response and Action
Other Latin American countries are also experiencing fear of Worldcoin. Ecuador's Central Bank showed its skepticism towards the advancement of cryptocurrencies deemed not to meet official currency standards reiterating that "crypto assets are not currency" in August.
Argentina's Public Access to Information Agency (AAIP) is conducting an investigation into Worldcoin to determine whether their data collection methods are legal.
Conclusion
SIC is conducting an investigation into Worldcoin. This is a major advance in personal data protection in Colombia and Latin America.
The future of crypto projects and similar technologies can be greatly influenced by actions taken by authorities due to increasing attention to data privacy.
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