The Spanish data protection authority has announced that Worldcoin, operated by Tools for Humanity Corporation, has agreed not to resume its operations in Spain until the end of 2024 or until the conclusion of an ongoing investigation. This decision comes following concerns about the collection and processing of personal data by Worldcoin. The investigation is being conducted by the data protection authority of Bavaria, Germany.
The notice states that the BayLDA is actively conducting the investigations and anticipates concluding "soon" with a decision that complies with the requirements of the relevant European regulatory bodies.
This includes the Spanish government, which in March 2024 ordered Worldcoin to cease gathering and using personal data while operating in Spain for the Worldcoin project.
Worldcoin has confirmed that users can now securely delete previous iris codes and has strengthened security measures by opening-sourcing its biometric data system during this investigation time.
It also added the ability to remove the iris code and more thorough controls to confirm users' ages.
Worldcoin has faced regulatory scrutiny in various countries, including Spain, Germany, and Hong Kong. In May, it was ordered to cease operations in Hong Kong due to concerns about its retention of sensitive biometric data for up to 10 years. Despite regulatory challenges, the project has seen significant growth, reaching 10 million users and 70 million transactions in April 2024. It gained attention when a man in Africa used its cryptocurrency to buy goats.
Additionally, Worldcoin launched its own blockchain network, World Chain, aimed at prioritizing human users and enhancing efficiency in Web3 applications. The project also plans to increase the supply of its token, WLD, by up to 19% in the next six months.
June 2024, Cryptoniteuae