China warn say dem dey collect biometric crypto data, WLD drop
China Ministry of Public Security an State Security don yan say make warning say iris scanning an oda biometric data gathering for crypto projects, especially Worldcoin (WLD), fit cause privacy an national security wahala. Dem authorities talk say data fit be used without permission, storage no clear, an e fit share am with third parties. Dem dey urge users make dem report any suspicious things. After the August 5 warning, WLD drop 5%, Bitcoin (BTC) come near $114,000, wey be like 7% fall from recent high because of plenty sell-off and unconfirmed talk about bigger crypto ban. Traders suppose dey watch how regulator dey act on biometric crypto data collection, because more ban fit change the industry way and affect tokens wey dem concern.
Bearish
Di formal warning dem we China Ministry of Public Security and State Security don give don increase the regulatory uncertainty for biometric crypto projects like Worldcoin, e dey push WLD down more. Market sell-offs and unverified ban rumors sef don weigh down BTC, wey dey cause short-term volatility. For short term, continued regulatory watching of biometric data collection fit keep both tokens under pressure; for long term, stricter rules or bans fit change how sector dey do tins and how investors trust am.