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Germany Instructs Popular Altcoin! The last day is January 19th!
Worldcoin (WLD) has not been able to overcome the problems with countries since its launch.
At this point, the latest news came from Germany.
Worldcoin, a cryptocurrency-based digital identity project co-founded by OpenAI CEO Sam Altman, has been re-evaluated due to German regulators' demand for compliance with European Union (EU) data protection laws.
The Bavarian State Data Protection Supervision Authority (BayLDA) stated in its announcement that the investigation focuses on whether Worldcoin's underlying technology, World ID, complies with GDPR standards.
At this point, BayLDA has ordered Worldcoin to implement a GDPR-compliant data deletion protocol by no later than January 19th.
The GDPR is a comprehensive EU law designed to protect individuals' personal data and privacy, and it enforces strict rules on how data is collected, processed, and stored.
Michael Will, the BayDLA Provincial Office President, said:
"With today's ruling, we are applying European fundamental rights standards in favour of data subjects in a technologically challenging and legally highly complex case***
With this decision, all users who provide iris data to Worldcoin will have an unrestricted opportunity to enforce their deletion rights in the future.
Worldcoin said it has received the German regulator's decision and plans to appeal the decision, according to a statement from the institution.
Worldcoin, which has faced problems with regulators in many countries, voluntarily suspended some of its activities in EU countries during the investigations and made updates to improve compliance.
However, countries like Kenya and Portugal have temporarily banned the project due to privacy concerns.
Worldcoin, which has experienced a 7.7% decline in the last 24 hours, continues to trade at $2.22 at the time of writing.