On Monday, the Spanish High Court denied a request by Sam Altman’s Worldcoin to have the temporary ban in Spain lifted.
Despite an appeal by Worldcoin’s owner, Spain’s High Court imposed a temporary ban on Tools for Humanity’s iris-scanning effort on Monday.
Furthermore, the court emphasized in its ruling the significance of protecting the “public interest.”
Spain Maintains Worldcoin’s Temporary Ban
In rejecting the appellant’s claim of “irreparable” harm, the Spain High Court ruled that Tools for Humanity would be permitted to recover any financial damages incurred if the ban were to be lifted again.
Following a ban on operations in Spain, Sam Altman’s Worldcoin had previously initiated legal proceedings against the Spanish data protection regulator on Friday.
Meanwhile, Worldcoin’s objective to create a global identity system in which individuals submit to iris scans in return for cryptocurrency, and a digital ID is the source of the dispute.
The AEPD, Spain’s data protection regulator, has issued a ban on Worldcoin’s collection of personal data and its use of any information already obtained.
Furthermore, Worldcoin asserted that the regulator was bypassing EU laws and disseminating deceptive information about their technology in opposition to the AEPD’s directives.
Additionally, Worldcoin contended that the regulator failed to adhere to well-established EU regulations and GDPR standards without offering specifics.
The administrative petition to suspend the order issued by the AEPD has been lodged in the High Court of the Administrative Chamber of Spain.
In response to the legal challenge, Worldcoin has temporarily suspended all World ID verification services in Spain, which utilized its “orb” devices to conduct iris scans.
The project, which facilitated iris scans for more than 4 million participants from 120 countries, has encountered international criticism from privacy advocates due to concerns regarding the collection, storage, and use of personal information.
WLD Price To Decline?
Contrary to expectations that the aforementioned negative development would cause the Worldcoin price to decline, the exact inverse occurred.
Following recent declines, the price of WLD recovered and recorded a significant increase today.
On Monday, March 11, the Worldcoin price was $9.84, an increase of 1.91% as of press time.
In contrast, the WLD exhibited a market cap of $1.46 billion.
The 24-hour trade volume, on the other hand, decreased by 30.64% to $939.23 million.
In contrast, the WLD cryptocurrency reached a peak of $10.26 today, notwithstanding the initial adverse trend.
However, the earlier-mentioned correction might be interpreted favorably as a retreat, given that the WLD cryptocurrency has risen 285% in a month.
In the past week, the Worldcoin cryptocurrency has also increased in value by more than 22%.
