Worldcoin, a crypto project that collects iris data to create a digital ID database, has been hit with a temporary three-month ban by Spain's Data Protection Agency (AEPD) due to concerns over child participation and privacy rights. The AEPD has prohibited Worldcoin from collecting any more personal data or using any data it had already gathered. Worldcoin filed a lawsuit against the ban, but the High Court rejected the request, citing the "safeguarding of the public interest" and Worldcoin's "unsubstantiated assertions". Despite concerns over privacy issues, Worldcoin's WLD token has risen more than 280% in the past month and currently sits at just under $10.
Welcome Back
Click “Sign in” to agree to Cointime’s Terms of Service and acknowledge that Cointime’s Privacy Policy applies to you.
Join CoinTime
Already have an account?
Click “page.Sign up” to agree to Cointime’s <a class="underline" href="#term-of-service">Terms of Service</a> and acknowledge that Cointime’s a class="underline" href="#privacy-policy">Privacy Policy</a> applies to you.
Sign in with email
Sign up with email
Your email
Check your inbox
Click the link we sent to to sign in.
Click the link we sent to to sign up.
Spain's High Court upholds temporary ban on Worldcoin's iris-scanning crypto project over child participation and privacy concerns
-
Wechat scan to share
Recommended for you
-
‘We’re just scratching the surface’ of crypto and AI — Microsoft exec
The symbiotic relationship between AI and crypto is still in its nascent stages, according to tech execs.
-
Big miners pose a growing existential threat to Bitcoin
As of May, AntPool and Foundry USA controlled more than 50% of Bitcoin's hash rate. That could become a problem for Bitcoin users in the near future.
-
Bybit’s Notcoin listing debacle, China firm’s profits up 12-fold after crypto buy: Asia Express
Bybit CEO apologises for Notcoin listing woes, Hong Kong crypto ETFs dissapoint, China firm's profits surge 1100% after crypto buy
-
Is onboarding too hard? Crypto adoption still faces major obstacles
Progress has been made in streamlining the Web3 onboarding process, but the flood of mainstream users has not yet arrived.
-
Hong Kong expands digital yuan pilot to allow e-CNY wallets for cross-border payments
The Hong Kong Monetary Authority and the People's Bank of China have expanded their cross-border digital yuan pilot to allow Hong Kong residents to use e-CNY wallets for cross-boundary payments. The digital yuan is China's central bank digital currency, which has been piloted for several years and is among the most advanced of its kind globally. Users can set up wallets using just a phone number and top them up in real-time through 17 Hong Kong retail banks. The HKMA plans to work with the Digital Currency Institute to explore enhancing interoperability in payments and corporate use cases, such as cross-border trade settlement. -
Türkiye proposes to align crypto legislation with international standards
Turkey's ruling party submitted a draft encryption bill to parliament on May 16. The bill focuses on licensing and registration of encryption service providers and aligning with international standards.The draft law aims to update existing legislation to comprehensively regulate the emerging cryptocurrency market. The key areas of focus for the bill include consumer protection, platform transparency, and compliance with financial regulations. The proposed legislation aims to regulate cryptocurrency trading platforms and other service providers in the industry, requiring them to obtain a license from the Capital Markets Board of Turkey. -
US Secret Service seizes domain used to run cryptocurrency scam
On May 17th, the US Secret Service seized a domain used for cryptocurrency trust fraud in a "pig-killing plate" scam. In the "pig-killing plate" scam, scammers contact victims through various means, including dating apps, social media websites, and even random text messages disguised as wrong numbers. -
French securities regulator issues new warning to Bybit
The French securities regulator has issued a new warning to the cryptocurrency exchange Bybit, urging customers to make arrangements for the possibility that the platform may suddenly stop providing services to French customers. The Financial Markets Authority (AMF) stated in a notice on Thursday that the exchange is not registered as a Digital Asset Service Provider (DASP), and therefore is providing services illegally in France. Bybit has been blacklisted by the AMF since May 20, 2022 for illegal operations. -
Swiss Federal Council Plans to Implement Crypto Asset Reporting Framework to Improve Tax Transparency
The Swiss Federal Council (consisting of seven members jointly leading the Swiss government) plans to implement a Cryptocurrency Asset Reporting Framework (CARF) to increase tax transparency.On the 15th, the Federal Council issued a consultation document to investigate public opinion on joining the Automatic Exchange of Information (AEOI) to combat tax evasion and avoidance in cooperation with international tax authorities. Currently, Switzerland's joining of AEOI is scheduled for January 1, 2026. It is reported that the Organisation for Economic Co-operation and Development (OECD) established AEOI and other initiatives for the Group of Twenty (G20) countries, which later expanded to include other countries.Switzerland previously adopted the Common Reporting Standard (CRS) of the OECD in 2014, but did not include CARF regulating cryptocurrency assets and their providers. -
US lawmaker: SEC should repeal crypto accounting policy before Senate vote
US legislator Wiley Nickel wrote a letter to Gary Gensler, Chairman of the US Securities and Exchange Commission (SEC), on May 15th, stating that the SEC should repeal the cryptocurrency accounting policy (SAB 121) before the Senate vote. Protecting investors is the mission of the US Securities and Exchange Commission, but SAB 121 does the opposite by preventing heavily regulated US banks from mass custody of digital assets. In addition, Wiley Nickel criticized the SEC for bypassing the rule-making process when issuing SAB 121, believing that the purpose of the cryptocurrency accounting policy is to clarify existing policies, not to create new ones.
Daily Must-Read
-
JPMorgan’s Onyx to industrialize blockchain PoCs from Project Guardian
-
OKX Ventures invests in Web3 ‘play ARPG to train AI’ game Blade of God X
-
Bitcoin volatility plunges below Tesla, Nvidia stocks amid $100K price prediction
-
What are tokenized commodities?
-
Bitcoin opens $63K futures gap as thin liquidity threatens BTC price
-
More than half of the Fortune 100 uses Apple’s Vision Pro headset
All Comments