Authorities in Hong Kong announce ban.
The Worldcoin Foundation has expressed its disappointment with the recent decision by regulatory authorities in Hong Kong to ban its operations. The organization asserts that it operates lawfully and complies fully with all relevant data privacy laws, including Hong Kong’s personal data ordinance.
In a statement to crypto.news, a spokesperson for the Worldcoin Foundation stated that the company operates within the boundaries of the law and is fully compliant with all regulations regarding data collection and usage.
Worldcoin has emphasized its mission to prepare humanity for the age of artificial intelligence by implementing high privacy standards. This includes strategies such as data minimization, user control over data, and advanced technologies like personal custody, iris code deletion, and secure multi-party computation. The foundation argues that these measures ensure the highest levels of security and privacy for user data.
The response from Worldcoin comes after the region’s privacy regulator found that the company had violated local privacy laws. The Privacy Commissioner, Ada Chung Lai-ling, stated that the collection of face and iris images by the Worldcoin project was “unnecessary and excessive,” thus violating local rules.
Additionally, the Office of the Privacy Commissioner for Personal Data (PCPD) found that Worldcoin had failed to inform participants of their data access and correction rights, further violating privacy laws. As a result, the Privacy Commissioner issued an enforcement notice directing Worldcoin to cease all operations of the Worldcoin project in Hong Kong involving the scanning and collection of iris and face images.
Worldcoin was founded in 2019 by Sam Altman, Max Novendstern, and Alex Blania. It aims to create a global digital identity platform using iris-scanning technology. In May 2023, the project secured $115 million in a Series C funding round led by Blockchain Capital, with participation from Andreessen Horowitz (a16z), Bain Capital Crypto, and Distributed Global.
In response to regulatory pressure, Worldcoin has made the decision to boost its token supply. This move aims to address concerns and comply with regulations in order to continue its operations effectively.
