Ecuador Doubles Down On Crypto Ban Following Worldcoin Controversy
Summary
Worldcoin, co-founded by OpenAI’s CEO, arrived in Ecuador, prompting warnings from authorities. The project's World ID verifications gained popularity, with citizens queuing for iris scans. Controversy arose over consent and incentives for the scans. The Data Protection Superintendency denied being notified about the project. Ecuadorian authorities reiterated their stance on cryptocurrencies, emphasizing that they are not legal tender or authorized means of payment in the country. The Central Bank warned citizens against using unauthorized means of payment and stated that actions can be taken for using crypto as a payment method.
