Spain's regulator has ordered Worldcoin to stop collecting data in the country. The WLD rate fell by 17%
Previously, the project was interested in the UK, Germany, France, Kenya, Hong Kong and South Korea
The Spanish Data Protection Agency (AEPD) has ordered the Worldcoin team to immediately stop collecting personal data of residents of the country, as well as using information already received. Users can join the Worldcoin blockchain network after undergoing a retinal scan procedure using an Orb device. A retinal scan is unique to each person, as is a fingerprint, which is why regulators in many countries have become interested in Worldcoin's activities to collect personal data of citizens.
AEPD was particularly concerned that Worldcoin collects data from minors. Officials also said that this problem affects citizens in all EU countries, and therefore "coordinated actions" should be taken regarding the project.
Back in January, the Data Protection Service of the autonomous Spanish community of the Basque Country issued a warning about the Worldcoin retina scanning technology. Officials said it was necessary to assess the risk of the project's activities, which should be regulated by the law on the protection of biometric data.
The AEPD explained that the actions of Worldcoin probably do not meet the norms of this law, and therefore a ban was issued. Thus, according to the document, users should be informed in detail about how their data will be used. They should also be able to delete this data.
Against the background of the decision of the Spanish authorities, the WLD exchange rate collapsed by 17% per day and reached $6.09, but by the time of writing it had partially recovered to $ 6.6. The asset ranks 111th in the ranking of cryptocurrencies by market capitalization with an indicator of over $ 976 million.
