- Spanish Court has upheld the ban on Worldcoin’s activities in Spain.
- Despite the global strain, WLD, the project’s token still remains resilient in price gains.
Worldcoin (WLD) is currently on the news as the National Court of Spain upheld its decision to temporarily ban Tools for Humanity Corporation GMBH (FTH), while the US has urged for a suspension of the project in Kenya. Amidst these issues, the question arises whether there is a possible reprieve for WLD.
Spanish Court Upholds Ban on Worldcoin
According to reports, the decision of the National Court of Spain to uphold Worldcoin’s ban supports an earlier ruling from the Spanish Data Protection Agency (AEPD). The AEPD ruled that consumer protection triumphs over the company’s commercial interests.
At the time, FTH, the company behind the Worldcoin project challenged the AEPD’s directive, stating that the agency lacked jurisdiction because the company is headquartered in Bavaria. However, the court disagreed, recognizing the AEPD’s power in this case and stating that any potential damages to FTH might be reimbursed if the eventual ruling favored them.
The disagreement started as a result of multiple complaints regarding Worldcoin’s data collection methods, including the handling of minors’ data without proper authorization. The AEPD identified cases in which permission was either uninformed due to insufficient information or irrevocable, in violation of the European Union’s General Data Protection Regulations (GDPR).
Worldcoin Emergence and Strain
As previously reported by Crypto News Flash, Worldcoin, introduced in 2023, is based on the unique premise of iris biometrics, to authenticate individuals’ identities online via World ID, which is obtained by iris scanning.
Furthermore, players in the Worldcoin ecosystem may obtain cryptocurrency incentives. Despite gaining over 4 million users across 120 countries since its beginning, the initiative has faced regulatory challenges, particularly in terms of privacy and data protection.
While the Spanish court’s verdict represents a setback for Worldcoin, the project still faces worldwide obstacles. Notably, Kenya has maintained a prohibition of Worldcoin activity since August 2023, despite lobbying from the US government to lift the ban.
Interior Cabinet Secretary Kithure Kindiki reiterated Kenya’s position, emphasizing the government’s commitment to protecting residents’ data and interests. “The United States has been pushing the government on the issues of WorldCoin, but we have remained adamant and firm,” Prof Kindiki noted.
Reiterating Crypto News Flash’s earlier reports, the Kenyan parliament heard from the Worldcoin team and sampled some of the individuals who had their eyes scanned. Notably, some persons have experienced difficulties with their eyesight following the scanning. Furthermore, the organization has been accused of duping the scanned people by offering less money than promised and failing to show them the right method of liquidating the funds.
The Fate of WLD
As of the time of writing, WLD is trading at $7.7, demonstrating a 5.4% decrease in the past day, with a trading volume of $273 million. Despite recent hurdles, WLD rose more than 140% recently as its user base topped one million, owing to its ambition of implementing Universal Basic Income via iris scanning.
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