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 operationA 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.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.Oluwapelumi values Bitcoin’s potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.Also known as “Akiba,” Liam is a reporter, editor and podcast producer at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change. Get the latest crypto news and expert insights. Delivered to you daily.The Decentralized Fund inititaive is designed to support Polkadot-focused organizations with funding.US approval of Ethereum ETFs turned investors’ sentiment in ETH positively.Hong Kong’s financial regulator SFC has licensed only 2 crypto exchanges in the region.SEC’s regulatory crackdown influenced ETF issuers to exclude staking from proposals amid compliance concerns.Worldcoin has stepped up efforts to enhance its users’ data privacy recently.The advancement has allowed the foundation to securely delete the previous iris code system.The network is set to go live this summer.The first Worldcoin native wallet has hit 10 million users in a little under one year from its launch in May 2023.CryptoSlate’s latest market report dives deep into the effects corporate Bitcoin purchases have on the market.Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
