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- Worldcoin has agreed to temporarily halt operations in Spain amidst investigations from the Spanish privacy watchdog, AEPD.
- The watchdog has raised concerns over the treatment of Spain citizen’s data by the company with the company’s economic interests.
Worldcoin has confirmed that it has agreed with Spain to halt operations in the country pending investigations. Worldcoin enjoys investor support in the European country and any development in the region has been garnering much attention. Its regulatory troubles in Spain began in March when the AEPD ordered the cessation of operations. With this move, Spain joined a long list of countries questioning the project’s privacy measures. Others include Portugal, Kenya, and India.
After 3 months of investigation, Worldcoin has agreed to extend its temporary ban for a year or until the privacy regulator finishes its investigation into Worldcoin’s inner workings.
When the regulator first halted operations in the region, it alleged that several Spaniards had filed complaints about the project. This included allegations that it was illegally collecting data from minors and not allowing users to withdraw their consent.
As CNF reported, Worldcoin’s popularity in Spain is nearly unmatched. A recent survey among its users in Spain reveals that it still holds massive support in the country. In the study involving over 21,000 of its users in the country, it claimed that close to 90% want it to resume its services and that four in five “agreed that technology like Worldcoin and World ID is important for distinguishing between humans and bots online.”
World ID's verified proof of humanness can help increase trust online in Spain & around the world 🇪🇸 pic.twitter.com/rpHEm6tRgF
— Worldcoin (@worldcoin) June 4, 2024
Speaking on the recent move to extend the suspension, TFH’s Chief Legal Officer Thomas Scott cited this study, arguing that Spain’s residents want the company to keep operating. Jannick Preiwisch, who heads the Data Protection Office at the Worldcoin Foundation, criticized Spain’s regulator for “circumventing established procedures under GDPR with their actions.”
Although Spain’s actions initially harmed Worldcoin’s WLD, its influence has faded away in recent days. In the wake of the latest news of its regulatory hurdle, the token has recorded a marginal change in the last 24 hours. Furthermore, WLD has risen by 2.5% in the past week, keeping up with the rest of the market.
Since its launch, Worldcoin has attracted millions of investors and participants who find its benefits to be massive. However, regulators have increasingly raised concerns about the project’s data collection and storage. Through it all, the team has been assuring the regulators and participants that their data is fully secured.
Worldcoin (WLD) shows signs of a potential breakout across timeframes. The AI-linked token has historically responded to AI advancements, and the upcoming Apple WWDC could be a catalyst for WLD’s prices. Other developments around OpenAI, the company that developed ChatGPT, and was co-founded by WLD developer Sam Altman, could lead to a price rally.
