A regulatory assessment of Sam Altman's worldcoin privacy implications had not been concluded when the project launched, the president of Bavaria's data watchdog told egreechee.
Bavaria's data watchdog had not finished its privacy and security assessment of Worldcoin when the project launched, the head of the agency said.
Michael Will, president of Bavaria's Data Protection Authority, the lead agency supervising the OpenAI-tied project in Europe, told CoinDesk on Monday that it was still reviewing the project when it went live on July 24, though he noted that the company is not legally obliged to notify the authorities and get their approval prior to the launch. Bavaria is a German state where Worldcoin has set up an entity to manage the data for its European users, so the local authority is leading the investigation.
At the same time, Worldcoin's financial aspect is also under investigation. Germany's Federal Financial Supervisory Authority, known as BaFin, is monitoring the project.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Worldcoin activity surges in week following launch, project claimsWeekly global World ID verifications increased by more than 100% in the week following Worldcoin's launch from beta, the project claims.
Read more »
Worldcoin expects more companies to integrate in the coming months, says product head👁️ “Over the coming weeks and months - during the second half of the year- we expect to spend a lot more time helping companies set up these integrations.” - tiagosada.
Read more »
Worldcoin's Nairobi Warehouse Raided by Kenyan Police: Local Reports.PoliceKE raided a warehouse run by worldcoin in Nairobi and took away documents and machines, according to local media reports. By amitoj and egreecehee.
Read more »
Crypto News Today: PayPal's Stablecoin Debut, Worldcoin's Kenyan Hurdles, and MoreFrom PayPal's entry into the stablecoin market to regulatory challenges faced by Worldcoin in Kenya, the crypto world continues to be a blend of innovation and controversy.
Read more »
Cryptoverse: All eyes on ChatGPT-maker's WorldcoinWorldcoin, the new project from ChatGPT founder Sam Altman, is attracting attention with over 2.2 million sign-ups and a steady price for its native coin WLD. The blockchain-based identity and financial network has avoided the volatile nature of many new crypto tokens.
Read more »
WorldCoin Appears in German Regulator's CrosshairsGermany's financial regulator, BaFin, has started investigating digital currency Worldcoin.
Read more »