- Worldcoin’s operations in Spain have been temporarily halted.
Amidst the legal pressures, WLD users surged, but the price performance remained dismal.
As a long-term crypto investor with experience in the market, I’ve seen my fair share of regulatory challenges and market volatility. The recent news about Worldcoin [WLD] and its temporary halt in Spain due to ongoing EU privacy audits is concerning but not entirely surprising.
The Worldcoin [WLD] initiative is encountering more resistance following the suspension of its activities in Spain, which will last until the end of the year due to an ongoing European Union privacy review.
Previously this week, the Spanish data protection authority, AEPD, announced a legal accord with Tools for Humanity, the entity overseeing Worldcoin’s initiative for collecting personal data.
Part of the AEPD’s press release read,
The company has formally agreed, according to law, to halt operations in Spain before the end of the year. If necessary, this pause may continue until the BayLDA reaches a definitive decision regarding the company’s data processing activities.
EU probe to determine Worldcoin’s fate
The Spanish data protection agency previously raised concerns about the project, as they found the company’s methods for handling the private information of Spanish citizens unclear.
The officials raised concerns over the automatic registration of children, as well as the absence of a process for deleting accumulated data from those who preferred to unenroll.
Per AEPD, the above issues were resolved,
“I.e., Tools for Humanity Corporation has disclosed adjustments in their operational procedures. These modifications incorporate measures to authenticate users’ ages and an optional feature to eliminate iris codes.”
Spain put its investigation on hold, pending the completion of the probe being carried out by Bavaria, Germany, where the Worldcoin headquarters is located and is currently examining the matter.
According to European regulatory standards, the findings from Bavaria’s report may significantly influence Worldcoin’s status not just in Spain, but throughout Europe.
Although recognizing the halt in Spain’s activities, Worldcoin pointed out that approximately 90% of theSpanish population expressed a desire for its return, according to surveys.
As a crypto investor following the developments in Spain closely, I’m excited to share that recent survey results reveal a strong sentiment among Spanish respondents towards the potential return of Worldcoin operations in their country. A staggering 87% expressed their support for this move, while 9% remained uncertain.
WLD users surge, but…
During this period, the number of WLD users has significantly grown, rising from 2 million registered addresses in early March to a total of 3.79 million at the time of writing.
As a crypto investor, I’ve noticed that the price of WLD has been stuck around the $5 mark on the charts since mid-May. The daily RSI, which measures the strength of recent price action, has been struggling to climb above its average level. This indicates that buying pressure is still weak and hasn’t been strong enough to propel the price beyond the $5 threshold.
Read More
- SQR PREDICTION. SQR cryptocurrency
- DOGS PREDICTION. DOGS cryptocurrency
- KNINE PREDICTION. KNINE cryptocurrency
- TON PREDICTION. TON cryptocurrency
- EVA PREDICTION. EVA cryptocurrency
- HI PREDICTION. HI cryptocurrency
- METIS PREDICTION. METIS cryptocurrency
- UXLINK PREDICTION. UXLINK cryptocurrency
- LDO PREDICTION. LDO cryptocurrency
- STG PREDICTION. STG cryptocurrency
2024-06-07 18:15