Brazil's data watchdog upholds the prohibition on global cryptocurrency payments.
Brazil's National Data Protection Authority (ANDP) has reaffirmed its prohibition on cryptocurrency payments related to the World ID initiative, citing concerns about user privacy.
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The initiative, originally known as Worldcoin, collects biometric data via iris scans to generate a digital identification called a World ID. This digital passport promises to verify individuals online, but the financial incentives given in return for biometric data raise questions about users' ability to freely agree.The ANDP rejected a plea by Tools For Humanity, the World ID developer, to rethink the restriction on delivering financial prizes, including cryptocurrency (Worldcoin - WLD), to users who supply biometric data. If Tools For Humanity continues data gathering operations, it will risk a daily fine of 50,000 Brazilian reais ($8,800).
This judgment underscores the increased regulatory scrutiny of digital identification systems that use sensitive biometric data. Despite these obstacles in Brazil, there is a growing global need for digital identification systems.World has replied to the suspension, alleging that no money or tokens were exchanged during the verification procedure. However, reports show that users have previously gotten tokens after completing the iris scan process.
No matter what they do or what they are actually doing, they can not prevent the growth and development of crypto space in the country most especially in a country like Brazil. The future is bright