Worldcoin Faces $1.2 Million Fine In Argentina For Law Violations; WLD’s Price Reacts
Summary
- Worldcoin (WLD) faces legal challenges in Argentina due to alleged abusive clauses in user contracts and discrepancies in data handling practices. - Buenos Aires authorities ordered an indictment after finding violations of consumer protection laws and concerns about biometric data storage and deletion. - The company's contracts lacked transparency, included abusive clauses, and violated Argentina’s Civil and Commercial Code. - Worldcoin collected biometric data in exchange for its financial application and cryptocurrency, facing potential fines of up to $1.2 million. - Despite legal scrutiny, WLD token experienced a 2.6% surge but has seen a 58% decline from its all-time high and a decrease in market capitalization.
