TLDR:
- Spain’s data protection regulator demands that Sam Altman’s Worldcoin stop collecting personal data in the country.
- Worldcoin uses iris scanning to distribute crypto tokens, facing criticism for privacy concerns.
Spain’s data protection regulator has ordered Sam Altman’s cryptocurrency project Worldcoin to stop collecting personal information in the country and cease using data that has already been gathered, according to a report from the Financial Times. The regulator, AEPD, is expected to announce this “precautionary measure” on Wednesday and has given Worldcoin 72 hours to comply.
Worldcoin’s project involves distributing a crypto token to individuals based on their unique identity, confirmed through iris scanning. Despite this innovative approach, the project has faced backlash due to perceived privacy risks. Worldcoin has the backing of prominent venture capital firms, such as a16z crypto and Bain Capital Crypto, but both Worldcoin and AEPD have not responded to requests for comments.
Overall, this development highlights the increasing scrutiny and challenges faced by innovative tech ventures operating in the cryptocurrency space, particularly when it comes to data privacy concerns and regulatory compliance.
