Spain to Ban Worldcoin: Report

Spain’s data protection regulator, the AEPD, has ordered a halt to the operations of Worldcoin, a cryptocurrency project co-founded by OpenAI’s Sam Altman, according to a report by the Financial Times.

Privacy concerns over its use of eye-scanning technology for data collection are the reasons behind the ban.

Worldcoin is a digital identification and cryptocurrency platform co-founded by Sam Altman that aims to provide verified digital identities through iris scanning. It is coupled with a unique cryptocurrency token and wallet, to distinguish real humans from AI online.

Despite the regulatory hurdles, Worldcoin has attracted significant investment, securing around $250 million from notable backers that include VC giant Andreessen Horowitz.

However, the venture’s high-profile nature and innovative data collection method have not been without controversy. In Spain, for instance, consumer complaints emerged as people lined up at Worldcoin stands in shopping centers.

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