Iris Data Collection Projects Face #China

👉China's Ministry of State Security has flagged foreign companies collecting iris data for cryptocurrency as national security threats.

👉The warning appears to target projects that scan users' iris data in exchange for token distributions.

👉Chinese authorities expressed concern over systematic global data collection and subsequent transfers abroad. The ministry stated that documented cases reveal exploitation of crypto token lures for biometric data harvesting.

👉Iris data-collecting projects have previously faced regulatory scrutiny in multiple jurisdictions over data privacy and protection issues.Indonesia suspended World's (formerly #Worldcoin ) operating permit in May following reports of suspicious verification activities.

👉Tools for Humanity voluntarily paused proof-of-human verification services in Indonesia pending license clarification. The company is seeking clarification on relevant licenses and permits for its global operations.

👉China continues to warn against crypto-related risks as part of its broader #cryptocurrency regulatory stance. Last month, Shenzhen's financial watchdog issued warnings against fraudulent schemes masquerading as legitimate crypto projects.#ChinaCrypto #IRIS