Worldcoin faces over $1 million fine in Buenos Aires for allegedly operating illegally

According to Mars Finance news, Worldcoin is facing legal action over its alleged illegal operations in Buenos Aires. The company was accused of violating rights guaranteed by Argentina's National Consumer Protection Law by including unfair terms in its binding contracts. Consumer protection groups in Buenos Aires also found inconsistencies in the company's handling of biometric data collected from local citizens. The local government found that several contracts accepted by users when using Worldcoin services, including the “Terms and Conditions of Use,” “Privacy Statement” and “Data Consent,” undermined the rights of Argentine consumers. Among the clauses deemed unfair was one that gave the company the ability to suspend service without refunding users. The contracts force users to waive collective claims and establish Cayman Islands regulations that apply to Argentines.

Furthermore, the final dispute will be resolved by arbitration within the jurisdiction of California, contrary to Argentine law. User iris data collected by Worldcoin will be stored in Brazil, according to information released by the city. Buenos Aires authorities also reported that the company had not issued any public statement prohibiting minors from registering on the Worldcoin system. Worldcoin faces fines of more than $1 million for these alleged violations. (Bitcoin.com)