• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Colombia Opens Investigation Against Worldcoin for Data Protection Breach

user avatar

by Giorgi Kostiuk

2 years ago

  1. Accusations Against Worldcoin
  2. Investigation Details
  3. Worldcoin Operations in Colombia


    4. Worldcoin, a cryptocurrency startup founded by Sam Altman, has faced accusations of violating national data protection laws in yet another country. This time, the focus is on Colombia.

    Accusations Against Worldcoin

    Colombia’s Industry and Commerce Supervision Agency (SIC) has launched an investigation into Worldcoin to determine whether Worldcoin and Tools for Humanity violated data protection regulations and privacy policies.

    SIC has prepared a statement of charges against the Worldcoin Foundation and the Tools For Humanity Corporation for alleged breaches of the personal data protection regime.SIC

    Investigation Details

    The investigation aims to determine if the parties under investigation violated the Colombian personal data protection regime in the collection of sensitive personal data. The SIC has issued a preliminary indictment assessing whether Worldcoin violated the country’s data protection laws. The preliminary indictment outlines possible penalties for Worldcoin, including a hefty fine, a six-month suspension of data processing activities, or a complete shutdown of operations if found guilty.

    Worldcoin Operations in Colombia

    Worldcoin launched in Colombia in June 2024 and currently operates Orb devices in 25 locations across seven Colombian cities, including the capital Bogota. As of the time of writing, WLD is trading at $1.72, up 7.8% in the last 24 hours.

    The consequences of the investigation could be significant for Worldcoin, as the company faces potential hefty fines and sanctions. Stay tuned for further developments.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

XRP Ledger Community Divided Over v313 Upgrade and Hard Fork Concerns

chest

The XRP Ledger community is divided over the v313 upgrade, with concerns about potential hard forks and the necessity for nodes to update to maintain network communication.

user avatarMiguel Rodriguez

ONDO Achieves Major Milestone with $1 Billion in Total Value Locked

chest

ONDO Global Markets has surpassed $1 billion in total value locked within just eight months of its launch, establishing itself as a leader in the tokenized equity market.

user avatarLuis Flores

SEC's New Framework Could Revolutionize Tokenized Stocks

chest

The US SEC is reportedly preparing a framework that could allow tokenized versions of stocks to trade on crypto platforms, potentially reshaping the stock market.

user avatarArif Mukhtar

Solana Faces Resistance in Parallel Channel

chest

Analyst Ali Martinez discusses Solana's recent price movements and the formation of a Parallel Channel.

user avatarMaria Gutierrez

KB Financial Launches Successful Pilot for Won-Denominated Stablecoin

chest

KB Financial Group has successfully completed a payment pilot for a won-denominated stablecoin, integrating various financial processes into a single workflow.

user avatarDavid Robinson

South Korea's Digital Asset Act Faces Delays Amid Regulatory Disagreements

chest

The Digital Asset Act in South Korea faces delays due to disagreements between financial regulators, impacting stablecoin legislation.

user avatarAndrew Smith

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.