Chinese Ministry of State Security Raises Concerns Over Data Privacy
China’s Ministry of State Security has issued a strong warning regarding the practice of collecting users’ iris data in exchange for cryptocurrency tokens, citing national security risks. Although the ministry did not explicitly mention the project by name, the warning appears to be directed at Worldcoin, previously known as World, which has faced similar scrutiny over data privacy issues in the past.
Crypto Company’s Iris Data Collection Raises Privacy and Security Concerns
In a post published on its official WeChat account, the Ministry of State Security highlighted concerns that a foreign company was using the appeal of cryptocurrency token distributions to systematically gather iris data from users worldwide. The ministry pointed out that the subsequent transfer of this sensitive data could threaten both individual privacy and national security.
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Worldcoin Faces Ongoing Regulatory Scrutiny
Worldcoin, a crypto project aimed at verifying human identity through iris scanning, has already come under regulatory scrutiny in multiple countries for its data collection methods. In May, Indonesia temporarily suspended Worldcoin’s operating permit following reports of suspicious activities related to World ID. In response, World’s developers, Tools for Humanity, paused their proof of human verification services in the country and sought clarification regarding the terms of their operating licenses.
China's Ongoing Warnings About Crypto Risks
China has consistently warned about the risks associated with cryptocurrencies, emphasizing concerns over data privacy, fraud, and financial stability. Just last month, the financial watchdog in Shenzhen issued a public warning about fraudulent schemes involving stablecoins and other crypto assets, highlighting the broader concerns regarding crypto's potential for misuse.
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