China Issues Stern Warning: Eye-Scanning Crypto Projects Pose Grave National Security Threats

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Ah, China. The land of billion-dollar tech giants, mind-boggling innovations, and… security paranoia? It seems the Ministry of State Security (MSS) is once again sounding the alarm-this time, about cryptocurrency companies that dare to collect biometric data. You know, like those innocent little iris scans that tech enthusiasts just *love* to give away.

According to the MSS, these seemingly innocent projects could not only invade your precious privacy but might also be used by foreign spies. Yes, spies! Because nothing says “secure financial system” like handing over your retina data to the highest bidder. 🕵️‍♂️

Biometric Data in Crypto? A New Frontier or a Dangerous Territory?

In a sternly worded notice on August 6, the MSS raised the flag over the growing use of advanced biometric tech in crypto projects. These projects are now using facial scans, fingerprints, and even the patterns in your *eyes* (because, why not?) to let you participate in the cryptocurrency craze.

These tech companies claim they’re “innovative” or “secure,” but the Chinese government, ever the cautious watchdog, isn’t so easily convinced. After all, *who* are we really trusting with our eye scans? Certainly not random, sketchy crypto platforms offering free coins in exchange for a piece of your iris, right?

In one example (which is so clearly Worldcoin, but we’ll pretend it isn’t for now), a foreign company collected iris scans from users worldwide in exchange for its shiny new cryptocurrency. That data, of course, mysteriously ended up in undisclosed locations. Could those locations be… *enemy territories*? Well, that’s what Chinese officials are hinting at. 😱

Worldcoin: A Convenient Villain

While they didn’t name names, it’s hard to ignore that the project described looks eerily similar to Worldcoin, a brainchild of none other than Sam Altman, CEO of OpenAI. Worldcoin requires users to scan their irises to get the coveted WLD token. In fact, the project just hit a record 15 million weekly transactions and claims to have expanded to over 160 countries-well, except China. Surprise, surprise.

World Network reached an all-time high of 15 million weekly transactions. The real human network is growing!

– World (@worldcoin) July 30, 2025

The Chinese government’s warning? Just a small part of a broader campaign to protect national security and regulate those pesky tech projects that might get too comfortable with your personal data. While crypto may seem fun, *big brother* is watching. 👀

In case you missed it, Chinese authorities are advising everyone to be cautious. Think twice before scanning your retina for some “free” digital coins, especially if that platform is based outside of China. Your eyeballs aren’t for sale, folks!

China’s Legal Armament: New Data Privacy Laws

To back up their security concerns, China has rolled out a suite of tough new laws aimed at protecting your biometric data. The Data Security Law, Cybersecurity Law, and the Personal Information Protection Law are now in full force, ensuring that any tech companies hoping to gather facial or iris scans need to toe the line. And you better believe that if you violate these laws, you’re looking at penalties that’ll make your head spin.

In fact, it’s not just China. South Korea also cracked down on Worldcoin with a hefty fine for mishandling biometric data. Yes, the same project that’s probably taking a mental note to avoid eye scans from Chinese citizens. 📉

And let’s not forget the crypto world’s other scandals. In 2020, Chinese Bitcoin miner LuBian was hit with the largest hack in crypto history, losing a cool $3.5 billion in Bitcoin. Maybe China’s paranoid, but can you blame them?

So, there you have it. In a world full of shady crypto schemes and high-tech surveillance, China’s playing it safe. If you’ve got a cryptocurrency platform that wants your iris, you might want to think twice before handing over your personal data. After all, not everything that glitters is gold-especially if it’s got a *really* good facial recognition system. 🙄

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2025-08-06 18:26