Worldcoin Faces Regulatory Challenges in Spain: What's Next for WLD Traders?

Worldcoin faces privacy controversy in Spain, ordered to halt operations for three months

In a recent setback for Worldcoin [WLD], the Spanish Agency for Data Protection has ordered the project to halt its operations in Spain for three months. The agency expressed concerns regarding privacy issues related to Worldcoin's eye-scanning technology, the Orb, which rewards users with WLD tokens.

Worldcoin Faces Regulatory Challenges in Multiple Countries as Spain's Suspension Sparks Data Protection Dispute

This isn't the first time Worldcoin has faced regulatory hurdles; countries like Kenya, France, and India have also raised concerns about data protection. However, Worldcoin's data protection officer, Jannick Preiwisch, criticized the Spanish authority's actions, accusing them of circumventing EU law and spreading inaccurate information about their technology.

Worldcoin Garners Market Interest as Spanish Regulatory Updates Affect WLD Prices

Despite regulatory challenges, Worldcoin has seen significant market interest, particularly with the upcoming AI conference hosted by NVIDIA. The recent news from Spain triggered a short-term drawdown in WLD's price, but sentiments remain mixed. Santiment data suggests a drop in weighted sentiment due to Fear, Uncertainty, and Doubt (FUD) surrounding the project.

The number of WLD holders has increased, indicating optimism for the long-term outlook

Despite short-term fluctuations, on-chain data indicates a growing number of WLD holders, suggesting positive long-term potential. Additionally, Worldcoin's decreasing annual inflation rate hints at a potential price recovery in the future.