noyhtnldo

@noyhtnldo

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Sunny day adventures with the happiest pup!

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Brazil’s data protection agency has upheld its decision to restrict cryptocurrency compensation tied to the World ID project, citing user privacy concerns.

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The National Data Protection Authority (ANDP) rejected a petition by World ID developer Tools For Humanity to review its ban on offering financial compensation to users who provide biometric data through iris scans, the agency said in a March 25 announcement.

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ANDP will “maintain the suspension of the granting of financial compensation, in the form of cryptocurrency (Worldcoin — WLD) or in any other format, for any World ID created by collecting iris scans of personal data subjects in Brazil,” a translated version of the announcement reads.

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The company faces a daily fine of 50,000 Brazilian reais ($8,800) if it resumes data collection activities.

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Cointelegraph reached out to Tools for Humanity but had not received a response at the time of publication.

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ANDP’s investigation into World, formerly known as Worldcoin, began in November of last year amid concerns that financial rewards could compromise users’ ability to consent to offering sensitive biometric data.

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The controversial “World ID” is created when users agree to iris scans, which generates a unique digital passport that can authenticate humans online.

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As Cointelegraph reported, Tools For Humanity was ordered to stop offering services to Brazilians as of Jan. 25.

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The regulator claimed Cumberland had acted as an unregistered dealer since March 2018 by buying and selling crypto deemed to be securities.

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The SEC sued Cumberland DRW on Oct. 10, alleging a single charge of operating as an unregistered securities dealer for more than $2 billion in crypto assets.

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“We look forward to continuing our dialogue with the SEC to help shape a future where technological advancements and regulatory clarity go hand in hand,” Cumberland added.

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“Second, our reserves need to be highly liquid so that they can be used quickly for monetary policy purposes if needed,” Schlegel told Tamedia on March 1.

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Schlegel first told Swiss local media outlet Tamedia that Bitcoin and other cryptocurrencies are too volatile, which isn’t conducive to maintaining the value of SNB’s investments.

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The FBI shared 51 Ethereum addresses operated by TraderTraitor or closely connected to them for industry players to block or refrain from interacting with.

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The protocol announced the “1.7.10” upgrade on Feb. 24, stating that it aims to block illicit transactions and protect liquidity providers from exposure to stolen funds.

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On Nov. 6, 2024, Donald Trump won the United States presidential election. His victory was broadly perceived as a win for the crypto space, as Trump had promised to end the war on crypto and make the US the crypto capital of the world if elected.

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AppsFlyer attributed the increase in adoption to several key developments in the cryptocurrency space.

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Most of these downloads occurred in the second half of 2024, with crypto app installs exceeding 1 million per month in the final quarter. December saw the biggest surge, with 2.8 million downloads, AppsFlyer said.

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According to AppsFlyer, downloads of the top 49 crypto apps in the UAE reached 6.2 million in 2023. That jumped to 15 million in 2024, a 41% increase.

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