- A Spanish court upholds the indefinite suspension of Worldcoin’s data collecting, prioritizing privacy concerns over business objectives.
- Kenya maintains its suspension of Worldcoin owing to data security concerns, despite pressure from the US to resume operations.
The National Court of Spain has ordered Tools for Humanity Corporation GMBH (FTH), the company behind the cutting-edge cryptocurrency project Worldcoin, to cease collecting and using personal data until further notice.
The persistent conflict between innovative technology initiatives and the strict laws governing the protection of personal data is reflected in this court case. Spain is being cautious, but the United States has expressed support for Worldcoin’s operations in Kenya, highlighting the complex international politics that surround digital currency initiatives.
Spain’s Legal Setbacks
The Spanish Data Protection Agency’s (AEPD) concerns about Worldcoin’s data processing practices, including how it handles kids’ data and the possibility of uninformed consent as a result of inadequate information provision, triggered this legal action.
This position, now bolstered by the National Court’s decision, emphasizes the vital importance of individual privacy and the stringent standards set by the General Data Protection Regulation (GDPR) of the European Union, particularly with regard to the processing of biometric data.
US Lobbying vs. Kenyan Opposition
At the same time, Kenya’s steadfast opposition to Worldcoin in the face of American lobbying demonstrates the nation’s commitment to safeguarding the privacy of its citizens’ personal information.
The decision by Interior Cabinet Secretary Kithure Kindiki to keep in place the August 2023 suspension of Worldcoin’s Kenyan operations emphasizes Kenya’s focus on data security and financial integrity over any potential financial gains from supporting such a cryptocurrency scheme. He stating:
“The United States has been pushing the government on the issues of WorldCoin, but we have remained adamant and firm.”
WLD Price: Optimistic Technical Analysis
Renowned analyst Youngerbest has highlighted Worldcoin’s market resilience throughout these regulatory entanglements.
In a recent tweet, Youngerbest noted that Worldcoin’s (WLD) valuation has increased, suggesting that the cryptocurrency may make a comeback to its previous top, with an aggressive price objective of roughly $8.5.
#WLD 目标红叉叉 pic.twitter.com/uwa24gtAFZ
— 周大侠丨無極Infinity® (@youngerbest) March 22, 2024
As Worldcoin navigates a maze of international legal and regulatory obstacles, its audacious goal of creating a global digital identity through cryptocurrencies is closely scrutinized.
As ETHNews had earlier detailed, with more than 4 million users in 120 countries, Worldcoin’s journey presents an engaging story at the intersection of privacy, legal frameworks, and technology in the modern digital age.
Meanwhile, the WLD price has fallen in the last 24 hours and 7 days, by 6.74% and 17.42%, bringing it to $7.74.