Ecuador Reiterates Crypto Stance Amid Worldcoin Controversy
The post Ecuador Reiterates Crypto Stance Amid Worldcoin Controversy appeared on BitcoinEthereumNews.com.
Worldcoin (WLD), a crypto project co-founded by OpenAI’s CEO Sam Altman, arrived in Ecuador in June. Due to its growing popularity, Ecuadorian authorities have warned its citizens about the project. Most recently, Ecuador’s Central Bank (ECB) issued a press release reiterating the country’s stance on cryptocurrencies and reminding users of the risks involving the illegal use of digital assets as a payment method. Worldcoin Faces More Controversy In June, Worldcoin announced that its World ID verifications would be coming to Ecuador at the end of the month. Starting June 26, the verifications have been available at six locations across Quito and Guayaquil. The project has gained popularity among Ecuadorians in the last month and a half, with hundreds of citizens reportedly queueing daily outside the Worldcoin spots to scan their irises. However, local reports revealed that many users agreed to the verification out of necessity. Controversy arose after X reports claimed that many people going through the scanning process were not informed well enough to consent to the verification. An X user stated he saw “over 50 people dress humbly lined up” in Guayaquil. Worldcoin Spot in Guayaquil. Source: Alfredo Velazco on X After inquiring about the reasons for the line, the user allegedly received answers like “they must be millionaires” and “sometimes people are crazy.” As reported by Primicias, users receive $30 in WLD after the verification process. “In exchange for the iris scan with an Orb machine, I was given 13 Worldcoin tokens worth $29.59, which I deposited into a digital wallet I created for this purpose,” said a 19-year-old to the local media outlet. Additionally, they can get up to $100 through the referral program. Adding to the controversy, the country’s newly founded Data Protection Superintendency (DPS) denied the claim that Tools For Humanity, the company behind…
Filed under: News - @ August 15, 2024 4:17 pm