• Sat. Dec 2nd, 2023
UK data watchdog to investigate WorldCoin crypto project

LONDON, July 25 (Reuters): Britain’s data regulator said on Tuesday it would investigate OpenAI CEO Sam Altman’s project WorldCoin, where users provide iris scans in exchange for digital identification and free cryptocurrency.

“We are aware of the launch of WorldCoin in the UK and will be making further inquiries,” a spokesman for the Information Commissioner’s Office told Reuters.

WorldCoin launched on Monday with two million users from its trial, with the crypto project ramping up eyeball-scanning operations in 20 countries, including sites in London.

Described on its website as a “new identity and financial network,” the WorldCoin project assigns people signing up a digital ID that it says will separate humans from artificial intelligence online.

According to the website, users who sign up in certain countries will be granted its cryptocurrency called the WorldCoin Token.

According to market tracker CoinGecko, the Worldcoin token initially rose, reaching a peak of $3.30 on Monday and $2.01 on Tuesday.

Reporting by Elizabeth Howcroft; Editing by Tom Wilson and Louise Havens

Our standards: Thomson Reuters Trust Principles.

Reports on the intersection of finance and technology that pay for cryptocurrencies, NFTs, virtual worlds and “Web3”.

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