Worldcoin Gets Hit With $200,000 Fine in Buenos Aires

Worldcoin, the innovative biometric and universal basic income project, has been slapped with a hefty fine totaling over $200,000 in the Buenos Aires province. The penalties were imposed due to a series of violations of the National Consumer Defense Law, notably the inclusion of unfair clauses in its terms of service agreement. Moreover, authorities in Buenos Aires discovered that Worldcoin had failed to carry out proper ID checks, thereby enabling minors to register their biometric data within the system. Additionally, the company was found to be lacking transparency regarding the procedures surrounding user data collection. These fines come as a result of an investigation initiated by consumer defense authorities back in April, shedding light on the importance of upholding consumer rights and ensuring ethical practices within the cryptocurrency industry.