Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Brazil Bans Worldcoin’s Crypto for Eye Scans

Brazil Bans Worldcoin’s Crypto for Eye Scans

AltcoinbuzzAltcoinbuzz2025/01/28 13:11
By:By Victor -Deepika Garg -

Brazil has put the brakes on Worldcoin, the controversial iris-scanning digital ID project.

The country’s data protection watchdog, the National Data Protection Authority (ANPD), issued an order. The company must stop offering crypto rewards to Brazilians.

The decision , made on January 24, 2025, followed an investigation that began in November 2024. This investigation was prompted by the launch of the World ID project in Brazil.

Brazil Raises Concerns Over Worldcoin’s Eye Scan Incentives

Worldcoin , now known as World Network, was giving crypto rewards in exchange for biometric data from eye scans. However, Brazil has raised the red flag. They have concerns over the validity of user consent and the sensitive nature of biometric information.

The ANPD’s primary worry was that offering financial incentives, like crypto, could compromise the free and informed consent required by Brazilian law when collecting personal data. The watchdog pointed out that people, especially those in vulnerable situations, might feel pressured to give consent in exchange for digital currency. This raised alarms about the potential for manipulation, as well as the irreversible nature of collecting such personal data. Once biometric data like iris scans are taken, they cannot be deleted, leaving a significant privacy concern.

The Brazilian DPA issued a temporary ban on Worldcoin’s iris-scanning venture. pic.twitter.com/keYaZRgx98

— Luis Montezuma | @ [email protected] (@montezumachavez) January 24, 2025

This move follows a similar crackdown in Europe. In December 2024, Germany’s data protection authority also issued corrective measures for Worldcoin, calling for changes to comply with the EU’s General Data Protection Regulations (GDPR). Authorities in both regions are tightening the reins on digital identity projects, especially when they involve sensitive data like biometrics.

World Network: 22.7M Users, 10.6M Verified in 18 Months

In just 18 months since its launch, World Network has made significant strides, verifying 10.6 million individuals while growing its user base to an impressive 22.7 million. The platform, which aims to revolutionize digital identity and financial networks through innovative biometric technology, has seen rapid adoption.

18 months since launch, 10.6M humans verified, 22.7M people on World Network.

Thanks for being such an incredible community 🤍 https://t.co/ReyFgj1GiT

— World (@worldcoin) January 24, 2025

In the wake of Brazil’s decision, World Network’s native token, WLF, saw a sharp decline, dropping more than 8% in just 24 hours. The token, which launched in July 2023, has now fallen 83% from its March 2024 high, highlighting the market’s reaction to the growing regulatory pushback.

Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

The Daily: ECB President Lagarde rejects bitcoin for Eurozone reserves while the Czech central bank considers it and more

European Central Bank President Christine Lagarde said bitcoin is not an option as a reserve asset for the Eurozone’s central bank reserves, citing liquidity, security and regulatory concerns.Meanwhile, the Czech National Bank approved a proposal from Governor Aleš Michl to assess diversifying some of its country’s reserves into bitcoin.

The Block2025/01/30 21:34

'Inevitable collapse': Trump’s crypto push sparks concern at Paul Singer's Elliott Management: FT

The hedge fund said in a new investor letter that the “inevitable collapse” of the crypto bubble “could wreak havoc,” according to the Financial Times.Elliott’s Paul Singer has never been a fan of crypto, telling WSJ in 2023 that cryptocurrencies are “completely lacking in any value.”

The Block2025/01/30 21:34