Worldcoin, an iris biometric crypto project co-founded by OpenAI CEO Sam Altman, has filed a lawsuit against Spain in response to an order by Spain’s data protection body AEPD to stop personal data collection in the nation or utilize the already collected data.

Worldcoin Files Lawsuit Against Spain’s Order

Sam Altman’s Worldcoin developed by San Francisco- and Berlin-based Tools for Humanity to counter the recent action by AEPD with a legal challenge, reported TechCrunch on March 8.

Tools for Humanity announced a lawsuit filed against the order claiming that Worldcoin complies completely 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 been in consistent and ongoing dialogue with BayLDA, our lead data privacy 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 spokesperson Rebecca Hahn.

Similar regulatory crackdown has already been applied to Worldcoin due to the collection of sensitive iris biometric data. Worldcoin had stopped offering its Orb-verification service in France, Brazil, and India because of these regulatory concerns.

Earlier, the PIPC of South Korea opened an investigation into Worldcoin in response to grievances over the gathering and use of personal data, especially those connected to iris and face scans. Notably, the commission expressed concerns about possible violations of the Personal Information Protection Act. A similar investigation was initiated by The Privacy Commissioner’s Office (PCPD) of Hong Kong. The PCPD looked into possible privacy threats at six Worldcoin outlets in Hong Kong.

WLD Price Dips

Worldcoin price saw 300% gain price in last few months, but fell after recent actions against Worldcoin’s data collection practices.

WLD price jumped 2% in the past 24 hours, with the price currently trading at $7.32. The 24-hour low and high are $7.08 and $7.43, respectively. However, the trading volume has decreased by 40% in the last 24 hours, indicating a decline in interest among traders.

Moreover, WLD price hit an all-time high of $9.33 on February 25, momentarily seeing its market capitalization surpass the $1 billion mark. However, when news of Elon Musk’s OpenAI lawsuit reached the market, it sparked a panic sell-off.

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The post Breaking: Sam Altman’s Worldcoin (WLD) Files Lawsuit Against Ban in Spain appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am