Thailand Orders Worldcoin to Delete 1.2 Million Biometric Records

Thailand’s Personal Data Protection Commission ordered Worldcoin to delete 1.2 million iris scan records, halting operations in the country, citing violations of local data laws.

This action raises concerns about data privacy and impacts the future of digital identity initiatives, prompting local exchanges to urge caution when trading Worldcoin.

Thailand’s Regulatory Move Forces Worldcoin Operational Halt

Worldcoin, co-founded by Sam Altman, faces scrutiny after the PDPC’s directive citing non-compliance with Thailand’s data protection laws. The project’s biometric identity verification method, exchanging cryptocurrency for iris scans, provoked the regulatory action. Worldcoin’s local partner, M Vision Plc, announced significant financial concerns, estimating a $31 million loss tied to user participation in its iris scan program.

Immediate effects involve suspension of Worldcoin’s operations in Thailand, with a requirement to delete all collected biometric data. The Ministry of Digital Economy and Society highlighted the urgency of preventing data transfer abroad, reinforcing the project’s operational suspension until further compliance is achieved.

We have suspended identity verification services in line with the PDPC’s order. We have complied with local laws and provided regulators with all necessary information. — Tools for Humanity (Worldcoin)

Market’s Reaction and Future Implications for Biometric Ventures

Did you know? Thailand’s regulatory action against Worldcoin marks the first major governmental stance on iris-scanning technology in Asia, illustrating growing scrutiny of biometric data use in crypto markets.

Data from CoinMarketCap highlights that Worldcoin’s token (WLD) is priced at $0.65 with a market cap of $1.54 billion and a trading volume of $91.7 million, marking a 9.54% decrease. Price fluctuations show a 3.94% increase over 24 hours but reveal significant declines over longer periods, including a 28.58% drop over the past 30 days.

The Coincu research team suggests potential shifts in regulatory frameworks could affect financial and technological landscapes. The focus may shift towards enhancing data protection, influencing both domestic and international crypto operations to reassess compliance strategies.