Worldcoin Shifts Focus Away from Europe Amid Regulatory Challenges

Worldcoin, the digital identity venture co-founded by Sam Altman of OpenAI, is refocusing its efforts away from Europe.

CEO Fabian Bodensteiner highlighted the company’s decision to prioritize regions that are more receptive to innovative technologies.

Speaking at the “Sifted Summit,” he stated that due to limited resources, Worldcoin is shifting its attention to markets with greater business potential.

Since its launch in July 2023, Worldcoin has faced regulatory challenges in Europe, including an investigation by Germany’s Bavarian State Office over its biometric data practices.

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Additionally, countries like Spain and Portugal have suspended its operations due to personal data concerns. Despite these hurdles, Worldcoin successfully initiated operations in Poland and began digital identity verification in Austria.

Bodensteiner reaffirmed the company’s commitment to engaging with European regulators, emphasizing that they do not intend to abandon the region.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.