Personal Data Debate Continues to Grow! Another Country Launches Investigation into Worldcoin (WLD): "Penalties Are Very Severe!"

Worldcoin (WLD), which has been the focus of investigations since its launch, has been accused of violating national data protection laws in yet another country.

Accordingly, Worldcoin, a cryptocurrency startup founded by Sam Altman, has now faced allegations of violating Colombia’s personal data protection regulations.

Colombia’s Industry and Commerce Supervision Agency (SIC), which launched an investigation into Worldcoin, stated that the investigation focused on whether Worldcoin and Tools for Humanity violated regulations regarding the protection of personal data and privacy policies.

“SIC has prepared a statement of charges against the Worldcoin Foundation and the Tools For Humanity Corporation for alleged breaches of the personal data protection regime.

The purpose of the investigation is to determine whether the parties under investigation violated the Colombian personal data protection regime in the collection of sensitive personal data.”

The SIC has issued a preliminary indictment assessing whether Worldcoin violated the country’s data protection laws. The preliminary indictment outlines possible penalties for Worldcoin, including a hefty fine, a six-month suspension of data processing activities, or a complete shutdown of operations if found guilty.

Worldcoin launched in Colombia in June 2024 and currently operates Orb devices in 25 locations across seven Colombian cities, including the capital Bogota.

WLD is trading at $1.72 at the time of writing, up 7.8% in the last 24 hours.

*This is not investment advice.