China joins global backlash against Iris-scanning crypto projects
Main Idea
China has raised concerns about crypto projects collecting biometric data, citing security risks and calling for stricter oversight, with Worldcoin being a notable example.
Key Points
1. China's bulletin warns against crypto projects using biometric data, emphasizing that such data cannot be changed if compromised.
2. Worldcoin, which uses iris scans for its 'proof of personhood' system, has faced regulatory scrutiny in multiple countries, including Kenya, Germany, and Brazil.
3. China is not among the 160 countries where Worldcoin operates, but the MSS has highlighted risks like data leaks and espionage.
4. Ethereum co-founder Vitalik Buterin has proposed alternative verification methods to biometric scans.
5. The article also mentions China's interest in yuan-backed stablecoins and other unrelated financial news.
Description
China has sounded the alarm over how crypto projects are using biometric data, warning that practices like iris and facial scanning could endanger individual privacy and national security. China’s Ministry of State Security has raised concerns that crypto projects are using biometric tools, like iris, facial, and fingerprint scans, as a cover to gather sensitive personal data. Risks beyond privacy In a bulletin published Wednesday, the MSS outlined several risks tied to these technologies, empha...
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