Analysis Crypto by Thebittimes.Com

South Korean authorities are set to probe Sam Altman’s Worldcoin following complaints about the unorthodox methods the iris-scanning firm uses to collect its data. According to South Korea ’s Personal Information Protection Commission, its investigation, which began on February 29, will establish if Worldcoin has breached the Personal Information Protection Act. The authority said “if violations are confirmed ,” it will “take action in accordance with relevant laws and regulations.” The press release, translated via Google, said the South Korea Worldcoin investigation will look into “the overall collection and processing of sensitive information and overseas transfer of personal information.” It also noted that Worldcoin and ‘affiliates’ are reportedly collecting facial and iris data in 10 locations across South Korea .  Worldcoin’s orb revamp hopes to be less Black Mirror, more Apple Read more: Worldcoin can damage economy and amplify fraud, Kenya MPs hear ...

Crypto policy making efforts have been reignited in South Korea after a woman was murdered following a dispute over digital assets. Lawmakers from South Korea are pushing to enshrine stricter regulation of digital assets in the wake of a gruesome murder case involving digital assets.  According to a May 18 Bloomberg report, a Korean woman was abducted on March 29 and later murder ed in a dispute believed to have stemmed from a disagreement over crypto currency-related losses — adding to a string of digital-asset-related scandals including Do Kwon’s Terra Money ecosystem collapse in May last year. The recent murder case has reportedly added urgency for lawmakers to expedite the nation’s first standalone crypto bill, which could be passed in a parliamentary vote later this month. 강남 납치·살인 3인조 구속…강도살인·사체유기 혐의https://t.co/TZmeX6uPns — 핫뉴스 (@hotnews_oxo) April 3, 2023 “There is finally a consensus on both sides of the aisle that we need to get a law in place as soon as possible,...

The downfall of Terra created quite the chaos in the market. But, it also occurred several months ago. Despite the foregone event, it continues to remain a prominent topic of interest. This is primarily due to the project’s founder Do Kwon . While the South Korea n government and Interpol are on a hunt for Kwon, he has time and again claimed that he wasn’t on the run. Amidst all of this, South Korea ’s foreign ministry has urged the Terra founder to return his passport. As per recent reports, the South Korean government has given Kwon a total of 14 days to submit his passport. If Kwon fails to do so his passport would be “administratively invalidated.” The notice said, “Our Department would like to send a ‘Notice of Order for Return of Passport’ to you by registered mail.[…]we inform you that the validity of your passports will be invalidated and administratively invalidated.” In addition, the government believed that K...