Worldcoin Shuts Shop in Spain Due to Regulatory Hurdles

Krutika Adani

Spanish Watchdog AEPD

The Spanish Agency for Data Protection (AEPD) has directed Worldcoin to cease its activity within the country until the end of 2024.

Worldcoin Responded Positively

The project had earlier suggested positive actions such as open-sourcing its data, deleting iris scans, and allowing users to control their own data.

Privacy Concerns

Increasing privacy concerns over iris scans have landed Worldcoin in trouble worldwide, including in Kenya and India.

Probes Throughout Europe

Worldcoin has been encountering increasing probes throughout Europe, with earlier investigations conducted in France, Germany, and the United Kingdom.

Recovery Potential Still High

Despite all the setbacks, experts are hoping for a 114% recovery rally, although a short-term bearish undertone is expected.