Worldcoin vs. the Privacy Storm: The WLD Token Beats Regulatory Hurdles

Portugal's data regulator, CNPD, has ordered a 90-day halt to biometric data collection by Worldcoin, citing data protection risks, unauthorized collection from minors, and inability to delete data. Worldcoin claims compliance and transition to "Personal Custody." Regulatory scrutiny extends to Spain, Kenya, and Germany. Despite challenges, WLD token maintains gains, currently trading at $9.01.

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Our analysis of the situation

In a bizarre twist of events, Portugal’s data regulator, the National Commission for the Protection of Data, has put the brakes on Sam Altman’s innovative iris scanning project, Worldcoin. This interruption comes as a result of an alleged breach of citizen data rights and unauthorized data collection, particularly from minors. The Worldcoin Foundation is at the center of the storm, facing scrutiny from multiple regulatory bodies across different countries, with Spain and Kenya having also ceased operations previously.

Amidst this regulatory turbulence, the resilient WLD token has managed to hold strong, maintaining an impressive 12% increase over the last week. Following a sharp dip from an all-time high to $7.24, the token has remarkably rebounded and is currently trading at $9.01. With a trading volume of $416,136,329 in the last 24 hours, there appears to be a renewed interest in the token, fueling a surge of almost 9% in the past day alone.

Looking forward, the WLD token faces resistance at $9.5 and $10.14, while support rests at $8.36. Despite the regulatory storm, the WLD token appears to be weathering the challenges and is expected to continue its upward trajectory in the near future.

While Worldcoin's future may be uncertain in the face of regulatory hurdles, the performance of the WLD token indicates that it continues to capture the attention of the market, demonstrating resilience in the face of adversity. As the investigation unfolds, the cryptocurrency world eagerly awaits the next chapter in the Worldcoin saga.

Disclaimer: The statements in this post are for informational purposes only and should not be considered as financial advice. Always conduct thorough research and consider seeking professional advice before making any investment decisions based on articles or information provided online.

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Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
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