South Korea's Worldcoin Investigation Could Thwart WLD's Bullish Ascent

South Korea's Worldcoin probe could thwart WLD's rise

NOIDA (CoinChapter.com) — Worldcoin is under investigation for invasion of privacy in South Korea. The research could thwart the bullish roadmap that some say awaits the token co-founded by OpenAI CEO Sam Altman.

South Korea to investigate Worldcoin

In February 2024, South Korea's Personal Information Protection Commission (PIPC) announced an investigation into Worldcoin. The move highlights growing scrutiny over digital privacy practices around the world, particularly those involving biometric data.

The PIPC investigation into Worldcoin arises from complaints about the collection and processing of personal information, particularly iris scans, at ten locations in South Korea.

Investigation by South Korean authorities could hurt Worldcoin price action

Worldcoin offers participants WLD tokens in exchange for iris scans, an approach that has attracted equal parts attention and controversy.

Additionally, the project's ability to address privacy concerns and meet regulatory standards will be crucial in determining its potential to rival Bitcoin's investment appeal.

Unlike Bitcoin, a lucrative investment option, Worldcoin presents a utility-driven proposition. However, Bitcoin's established presence and the trust it has gained over the years present a formidable benchmark for any new entrants into the cryptocurrency space, including Worldcoin.

Worldcoin investigation could derail bullish setup

Meanwhile, WLD price has formed a bullish technical pattern called “Bullish Pennant”.

WLD price formed a bullish pattern with a bullish target of 265%.