Report: Spain Plans to Ban Worldcoin

Spain’s data protection regulator has issued a ban on Worldcoin, a cryptocurrency project co-founded by Sam Altman from OpenAI, due to privacy concerns over its use of eye-scanning technology for data collection. The innovative project aims to provide verified digital identities through iris scanning and has attracted significant investment of around 0 million from notable backers, including VC giant Andreessen Horowitz. Despite its recent rally to hit a new record high, Worldcoin has faced regulatory scrutiny not only in Spain but also in South Korea, the UK, Germany, and France. These regulators are investigating the project’s handling of biometric data, such as facial and iris recognition, for potential violations of local data protection laws. The project’s unique data collection method and high-profile nature have sparked controversy and regulatory backlash in multiple countries.