Worldcoin, an iris biometric cryptocurrency project, has been sanctioned with fines for over $200,000 in the Buenos Aires province.
The fines answer to several violations of the National Consumer Defense Law, such as the inclusion of abusive clauses in its terms of service agreement.
Also, authorities of Buenos Aires concluded that Worldcoin was not conducting due diligence ID checks, allowing minors to register their biometric information into the system.
Finally, authorities highlighted that the company was unclear about the procedures that follow the user data collection. The fines follow an investigation started by consumer defense authorities in April.
Worldcoin claims to be the world’s largest privacy-preserving human identity and financial network, giving ownership to everyone.
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