Worldcoin, the altcoin project led by Sam Altman, CEO of artificial intelligence company OpenAI, is in trouble. Worldcoin has faced legal problems in many countries. Now it faces legal challenges in Buenos Aires over accusations of consumer rights violations. The country’s authorities issued an indictment against Worldcoin.
Buenos Aires is investigating this altcoin project
Authorities in Buenos Aires identified discrepancies between Worldcoin’s reported data processing practices and the findings of their audits. In this context, Undersecretary Ariel Aguilar expressed concerns regarding the storage and immediate deletion of biometric data. In this regard, he highlighted the uncertainty surrounding these processes and their potential violations of user rights. “The complexity of these agreements, combined with the innovative nature of Worldcoin’s activities and the lack of clear information, hinders a comprehensive understanding of the system,” Aguilar said.
The claims about Worldcoin are quite critical!
Reviews revealed that Worldcoin does not advertise that only individuals over the age of 18 can use its services. It also revealed that it potentially led to the collection of minors’ data. Moreover, authorities found that Worldcoin was storing biometric data collected from Argentine users in Brazil. Therefore, this raises questions regarding privacy and data sovereignty.
Meanwhile, contracts including terms of use, privacy notices and data consent forms are under the spotlight. There are serious suspicions that they contain substances that may violate national consumer protection laws. It also includes provisions allowing Worldcoin to suspend services without compensation. In addition, the agreements contain provisions waiving users’ rights to collective legal action.
Serious fines are also on the agenda for the altcoin project!
The terms also propose that disputes be resolved by arbitration under foreign law, specifically Cayman Islands law and the US state of California, which conflicts with Argentina’s Civil and Commercial Code. If these allegations are proven, serious fines will be imposed. In this context, Worldcoin may have to pay a fine of up to 1 billion Argentine pesos ($1.2 million). Buenos Aires officials maintain that the company is now solely responsible for the fine.
in spain users do not listen forbidden!
cryptokoin.comAs you follow from, Spain has imposed a temporary ban on Worldcoin. In the background of this ban, there are also concerns about privacy and data protection. AEPD, Spain’s data protection authority, ordered Worldcoin to stop collecting data, highlighting the risks that the processing of biometric information poses to individuals’ rights. However, despite these regulatory challenges, Worldcoin’s World App has seen significant growth with 10 million users worldwide and 2 million daily active users. The altcoin project needs to regulate its expansion to maintain its global user base.
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