China Issues New Cryptocurrency Warning! It Didn't Name It, But It Made a Reference to This Altcoin!

A new warning came from China, which continues its harsh ban on Bitcoin and cryptocurrencies.

According to local Chinese news agency Weixin, authorities have warned the public against foreign companies collecting users' iris information through token issuance.

Accordingly, China's Ministry of State Security (MSS) has issued a warning about a foreign company collecting and transferring users' iris information worldwide and distributing cryptocurrencies as bait.

The MSS warned that this poses a threat to both personal privacy and national security.

The company in question was not named, but the warning was interpreted as a subtle reference to Worldcoin, backed by OpenAI CEO Sam Altman.

Formerly known as Worldcoin, Worldcoin aims to provide a reliable means of identity verification called World ID to counter AI-powered bots and fake virtual identities. The project aims to incentivize users to join its network by scanning their irises using Worldcoin's spherical iris scanner.

However, World was not explicitly mentioned in the MSS announcement.

*This is not investment advice.