South Korea Penalizes Worldcoin, Citing Breaches in Privacy Protection Regulations
Seoul, South Korea – South Korea’s data protection authority, the Personal Information Protection Commission (PIPC), has imposed a hefty fine on Worldcoin, a cryptocurrency firm known for its biometric-based approach to user identification. The penalty, amounting to 100 million won (approximately $72,000), comes as a result of Worldcoin’s violation of the country’s stringent personal data protection laws. Worldcoin, which has garnered significant attention for its ambitious plan to provide a blockchain-based identity using iris scans, faced scrutiny from the PIPC regarding its handling of sensitive biometric data. The regulatory body’s investigation revealed that Worldcoin had … Read more