China labels Worldcoin-style biometric crypto projects as ‘security threats’
Main Idea
China's Ministry of State Security labels Worldcoin-style biometric crypto projects as national security threats, potentially impacting Worldcoin's expansion in Asia.
Key Points
1. China's Ministry of State Security (MSS) issued a statement on WeChat, identifying Worldcoin-like iris scanning operations as a threat to national security.
2. Worldcoin's project involves scanning human irises to differentiate humans from AI bots, offering WLD tokens as incentives.
3. Following the MSS statement, WLD's price dropped by 5% on August 5th, amid a broader market sell-off.
4. AMBCrypto found no evidence to support claims of coordinated fake news, suggesting possible market manipulation.
5. At the time of reporting, Bitcoin (BTC) was trading at $114K, down 7% from recent highs.
Description
Will China's stance affect Worldcoin's expansion plan in Asia?
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