UK ICO Launches Investigation into WorldCoin ICO

The Information Commissioner's Office (ICO) has responded to the launch of a new cryptocurrency called WorldCoin in the UK, stating that it is making inquiries. The statement also noted that any organisation processing personal data related to WorldCoin is obligated to conduct a Data Protection Impact Assessment (DPIA) to identify risks associated with the processing and, if necessary, consult the ICO about mitigating those risks. Furthermore, organisations must have a clear lawful basis to process any personal data, including freely given and capable of being withdrawn without detriment if relying on consent.