Worldcoin (WLD), an iris biometric crypto project co-founded by OpenAI CEO Sam Altman, has filed a lawsuit against Spain in response to an order from Spanish data protection authority AEPD to halt the collection of personal data in the country or use from the data already collected.
Sam Altman’s Worldcoin, developed by Tools for Humanity based in San Francisco and Berlin, to challenge AEPD’s recent action with a legal challenge, TechCrunch reported on March 8. Tools for Humanity announced a lawsuit against the order claiming that Worldcoin fully complies with all laws and regulations governing the collection and transfer of biometric data, including Europe’s General Data Protection Regulation (GDPR).
“As a result, we have had a consistent and ongoing dialogue with BayLDA, our main data protection regulator in the EU, for several months. We are disappointed that Spanish regulators have circumvented accepted EU procedures and rules, leaving us with few options but to file a lawsuit,” said Woldcoin spokeswoman Rebecca Hahn.
Similar regulatory measures have already been applied to Worldcoin due to its collection of sensitive iris biometric data. Worldcoin had previously halted its Orb verification service in France, Brazil and India due to these regulatory concerns.
Previously, South Korea’s PIPC opened an investigation into Worldcoin in response to complaints about the collection and use of personal data, especially those tied to iris and facial scans. It is notable that the committee expressed concern about possible violations of the law on the protection of personal data. A similar investigation was launched by Hong Kong’s Privacy Commissioner’s Office (PCPD). The PCPD investigated possible privacy threats at six Worldcoin branches in Hong Kong.
Worldcoin’s price saw a 300% increase in recent months, but fell after recent actions against Worldcoin’s data collection practices. WLD price rose 2% in the last 24 hours, with the price currently trading at $7.32. The 24-hour low and high are $7.08 and $7.43 respectively. However, trading volume has declined by 40% in the last 24 hours, indicating a decline in interest among traders.
Furthermore, the WLD price reached an all-time high of $9.33 on February 25, with the market capitalization temporarily exceeding $1 billion. However, when news of Elon Musk’s OpenAI lawsuit hit the market, it caused a panic selling.
Source: https://cryptobenelux.com/2024/03/08/worldcoin-spant-rechtszaak-aan-tegen-verbod-in-spanje/
