On Monday, the Spanish High Court rejected Sam Altman’s Worldcoin’s appeal to lift the temporary ban in Spain.
On Monday, Spain’s High Court decided to keep the temporary ban on an iris-scanning project by Tools for Humanity, despite an appeal from the owner of Worldcoin. The court emphasized the need to protect the “public interest” in its ruling.
Spain High Court Upholds Ban on Worldcoin’s Iris-Scanning Initiative
The Spain High Court confirmed the temporary ban on Tools for Humanity’s iris-scanning project, rejecting Worldcoin’s appeal. Additionally, the court assured Tools for Humanity of reimbursement for any financial losses if the ban is lifted in the future, dismissing the appellant’s claim of “irreparable” harm.
The dispute arose from Worldcoin’s ambition to establish a global identity system, offering cryptocurrency and a digital ID in exchange for iris scans. However, after Spain’s data protection regulator, the AEPD, imposed a ban, Worldcoin faced legal action. The AEPD directed Worldcoin to cease collecting personal data and using any previously obtained information.
Worldcoin challenged the AEPD’s instructions, accusing the regulator of circumventing EU laws and disseminating misinformation about their technology. Moreover, Worldcoin argued that the AEPD failed to adhere to established EU rules and GDPR regulations without providing specific details. Consequently, Worldcoin filed a lawsuit seeking to suspend the AEPD’s order, submitted to the Administrative Chamber of Spain’s High Court.
In response to the legal proceedings, Worldcoin halted all World ID verification services in Spain, involving iris scans using the company’s “orb” devices. Despite attracting millions of participants worldwide, the project faces criticism from privacy advocates over apprehensions regarding the collection, storage, and utilization of personal data.
Worldcoin Crypto Defies Negative Sentiment with Rebound
Despite the negative development mentioned earlier, the Worldcoin (WLD) crypto price did not follow the anticipated downward trend. Instead, it rebounded from recent declines and experienced a notable gain today. As of Monday, March 11, the Worldcoin price surged by 1.91% to reach $9.84 at press time.
Worldcoin exhibited a market capitalization of $1.46 billion, while the 24-hour trade volume saw a significant decline of 30.64% to $939.23 million. Despite an initial bearish turn, the WLD crypto managed to reach a high of $10.26 today.
The correction observed earlier in the day could be viewed as a positive pullback, considering the impressive performance of the WLD crypto in recent times. Over the past month, Worldcoin surged by an astonishing 285%, while it rallied over 22% in the last seven days.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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