The cryptocurrency project co-founded by Sam Altman, Worldcoin, has been temporarily banned in Spain for up to three months by the country’s data protection agency.
The Spanish data protection agency (AEPD) ordered Tools for Humanity Corporation, the developer behind Worldcoin, to halt data collection and usage due to complaints about inadequate information and data collection from minors.
Worldcoin responded, criticizing the AEPD’s actions as circumventing GDPR procedures and spreading inaccurate claims about their technology. The project faces regulatory scrutiny globally, with investigations launched in South Korea, Hong Kong, the UK, and Kenya.
The AEPD’s move follows similar actions by other jurisdictions concerned about biometric data processing risks. Worldcoin’s Data Protection Officer expressed willingness to engage with regulators, citing ongoing communication with Bavarian authorities.
Despite Worldcoin’s ambitions to offer digital IDs and free cryptocurrency, privacy campaigners have raised concerns about data collection practices. The ban underscores growing regulatory challenges facing projects integrating biometric data into cryptocurrencies.
Worldcoin, backed by prominent venture capital firms, faces a pivotal moment as it navigates regulatory hurdles worldwide. The impact of these bans and investigations on Worldcoin’s future remains uncertain amid heightened privacy concerns.
Also Read: South Korea Probes Worldcoin Amid Growing Privacy Concerns
