The Spanish government has ordered Worldcoin (WLD), a cryptocurrency project centred on human identity, to halt its data collection activities within the country in response to multiple customer complaints.
In an official statement, the Spanish Data Protection Agency (AEPD) has instructed Worldcoin to immediately cease the collection and processing of personal data in Spain under its Worldcoin project. The agency also plans to block any data already gathered by the eye-scanning digital identification initiative.
According to the AEPD, several complaints have been lodged against Worldcoin, citing inadequate information disclosure, data collection from minors, and the inability to withdraw consent, among other violations.
Late last year, Worldcoin, co-founded by Sam Altman, CEO of OpenAI, faced operational suspensions in Brazil, India, and France, resulting in a 20% price drop at the time.
More recently, billionaire Elon Musk filed a lawsuit against Sam Altman and OpenAI, alleging a breach of the founding agreement. Musk claims that he initially supported OpenAI in 2015, providing funding and assistance in recruiting. However, the firm was later acquired by Microsoft, allegedly violating the original agreement.
The lawsuit contends that OpenAI diverted its focus from benefiting humanity to maximising profits for Microsoft, particularly with the development of GPT-4. Moreover, the lawsuit highlights concerns about the secrecy surrounding OpenAI’s development process.
At the time of writing, Worldcoin is trading at $7.08, reflecting a 1.75% increase over the past 24 hours.