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    Worldcoin ‘disappointed’ with Hong Kong ban as WLD drops 5%

    2024.05.23 | exchangesranking | 50onlookers
    The Worldcoin Foundation expressed disappointment over Hong Kong authorities’ decision to ban its data collection efforts due to alleged privacy violations, according to a May 23 statement shared with CryptoSlate.

    On May 22, Hong Kong’s Office of the Privacy Commissioner for Personal Data (PCPD) halted Worldcoin’s data collection activities in the region.

    The PCPD claimed that Worldcoin’s collection of facial and iris images from over 8,000 Hong Kong residents was both unnecessary and excessive. Additionally, the regulator accused Worldcoin of failing to provide adequate information to users, thus compromising their ability to give informed consent.

    Lawful operation

    A spokesperson for Worldcoin affirmed the project’s commitment to legal compliance, including adherence to Hong Kong’s Personal Data Ordinance and similar regulations worldwide.

    The spokesperson further emphasized that Worldcoin aims to set high standards for privacy protection in preparation for the AI era. The project achieves this through minimal data collection, user control over data, advanced technological measures like personal data custody, iris code selection, and secure multi-party computation.

    Consequently, Worldcoin expressed disappointment that the Hong Kong regulators failed to consider these privacy advancements before imposing a ban on the project.

    Meanwhile, Worldcoin’s dissatisfaction mirrors its reaction to Spain’s data protection agency, which also blocked data collection efforts from the Sam Altman-backed company. While Worldcoin hinted at potential legal action against Spain, it did not specify whether it would pursue similar measures against Hong Kong.

    WLD price down

    The ongoing controversy surrounding the project in Hong Kong has led to significant losses for the WLD token.

    WLD is among CryptoSlate’s biggest losers for May 23, dropping about 5% in the past 24 hours to $4.86 as of press time.

    This decline mirrors a broader market trend, with major digital assets such as Solana and BNB also seeing losses exceeding 2% during the same period.

    Mentioned in this article
    Worldcoin Solana Worldcoin Sam Altman
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