Worldcoin could face investigation from UK data regulators days after launch: report

The project has faced criticism from the fintech world over its dystopian features and privacy concerns.

The controversial new crypto and ID project Worldcoin could face demands from data regulators in the UK as it raises concerns over the privacy and security of critical biometric data, according to a Reuters report.

The Information Commissioner's Office (ICO) - the UK's data regulator - has acknowledged the launch of the crypto project in the country and said it will review the project and carry out further investigations regarding data laws, Reuters reported.

When Cointelegraph contacted the ICO to ask about its reported investigation into Worldcoin, the agency declined to comment. A spokesperson for the regulator said they “have not announced anything publicly to confirm or deny whether we are reviewing Worldcoin. Until then, I would not be able to comment.”

The digital ID-centric crypto project launched on July 24 and was co-founded by OpenAI CEO Sam Altman. The project secured $115 million in funding in May earlier this year with funding from A16z Crypto, Bain Capital Crypto, and Distributed Global. Worldcoin onboarded over 2 million users during its beta phase despite many concerns about the nature of the project.

Related: OpenAI CEO Sam Altman testifies at 'historic' Senate hearing on AI security

While these numbers may seem impressive, a study by MIT Technology claims that the majority of the first million users were onboarded using "deception, h...