Buenos Aires Accuses Worldcoin of Violating Consumer Laws
The government of Buenos Aires province has accused Worldcoin of violating consumer protection laws due to what it deems as unfair clauses in its user agreement.
According to the province, Worldcoin’s agreement allows the company to halt services without providing compensation or repairs, and mandates dispute resolution through arbitration in California, applying Cayman Island laws to Argentinian residents.
Additionally, audits conducted by the provincial government revealed concerns about access by minors, international storage of user data, particularly biometric data, and the deletion of such data, raising questions about compliance with privacy regulations.
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If found guilty, Worldcoin could face fines of up to 1 billion Argentine pesos. This action follows similar charges filed in the EU by Spain and Portugal, addressing issues of data collection from minors, user consent, and data ownership.
Despite controversy, Worldcoin maintains its operations’ legality and has implemented transparency measures. Founded by Sam Altman, CEO of OpenAI, Worldcoin faces scrutiny amidst efforts to comply with regulatory requirements.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
