South Korea fines Worldcoin for violating personal protection laws
Despite the regulatory hurdles, the project’s WLD token surged 35% this week, from $1.60 on Sept. 19 to $2.16 on Sept. 26.
South Korea’s personal information watchdog imposed a fine of 1.1 billion Korean won ($829,000) on the Worldcoin Foundation and its affiliate Tools For Humanity (TFH) for violating the country’s laws on personal information protection.
In a plenary session on Sept. 25, the country’s Personal Information Protection Commission (PIPC) announced that it would fine the company $829,000 for violating the Personal Information Protection Act (PIPA).
The regulator also imposed corrective orders and improvement recommendations on the Worldcoin Foundation.
Despite the regulatory hurdles, the project’s WLD token surged 35% this week, from $1.60 on Sept. 19 to $2.16 on Sept. 26.
South Korea’s personal information watchdog imposed a fine of 1.1 billion Korean won ($829,000) on the Worldcoin Foundation and its affiliate Tools For Humanity (TFH) for violating the country’s laws on personal information protection. In a plenary session on Sept. 25, the country’s Personal Information Protection Commission (PIPC) announced that it would fine the company $829,000 for violating the Personal Information Protection Act (PIPA). The regulator also imposed corrective orders and improvement recommendations on the Worldcoin Foundation. Read more