Worldcoin Faces Legal Setback in Portugal Casting Shadow on WLD

• Citing numerous complaints of unauthorized data collection, Potugal’s data regulator CNPD instructed Worldcoin to cease collecting biometric information.
• Meanwhile, Worldcoin has introduced Personal Custody, allowing users to control their data directly on their devices.

Sam Altman’s iris-scanning crypto project Worldcoin is facing major resistance and this time it’s facing a major roadblock in Portugal. In the latest development on Tuesday, March 26, Portugal’s data regulator has asked Sam Altman’s iris-scanning project Worldcoin to immediately stop collecting the biometric information of Portugal residents.

Portugal’s regulatory authority CNPD reported receiving numerous complaints in the past month regarding unauthorized data collection from minors, inadequate information provision to data subjects, and challenges in data deletion or consent withdrawal.

In line with this, Jannick Preiwisch, the data protection officer at the Worldcoin Foundation, affirmed, “We are fully committed to complying with data laws, including GDPR, and acknowledge the CNPD’s authority. We prioritize transparency and are keen to address any concerns raised, including reports of underage sign-ups, which we are actively resolving.”

The recent setback faced by Worldcoin has quickly garnered global attention, coinciding with the increasing global scrutiny surrounding this emerging technology. Meanwhile, amidst its existing legal battles, Worldcoin seems to be attracting heightened scrutiny worldwide regarding its cryptographic development efforts.

Worldcoin has faced numerous legal challenges since the beginning of the month, adding to concerns about potential declines in WLD prices. Earlier this month, the Worldcoin project encountered legal hurdles in Spain, leading to a significant drop in WLD value. Similar setbacks in Kenya and South Korea have contributed to negative market sentiment, with investors adopting a bearish outlook on the token’s future price trajectory, as reported by Crypto News Flash.

WLD Price Risks Major Correction Despite Worldcoin’s Efforts

Despite this news from Portugal, there’s not any kind of negative impact on Worldcoin’s native cryptocurrency WLD. As of press time, WLD is trading 9.0% up at $9.09 with a market cap of $1.445 trillion. On the other hand, the 24-hour trading volume has also shot up by 60% to $435 million.

Earlier this month, the Worldcoin (WLD) price touched its record high at $11.4 level. After a partial retracement, it is back on the upward trajectory. Some market analysts believe that the WLD price can undergo sweeping correction if it continues to face backlash from more regions across the globe.

Amid these regulatory developments, Worldcoin has also managed to undertake key actions. As reported by Crypto News Flash, Worldcoin recently introduced Personal Custody that enables users to store their personal data, including images and metadata utilized for generating World ID iris codes, directly on their devices. This grants users complete control over their data, a departure from automatic erasure policies.

The implementation of Personal Custody sets the stage for advanced functionalities like Face Authentication. This on-device process enhances security by providing users with a secure means to verify their identity, bolstering the integrity of the World ID network.