Spain's data protection regulator has demanded that Sam Altman's cryptocurrency project Worldcoin immediately cease collecting personal information in the country and stop using data it has already gathered, the Financial Times reported on Wednesday.

AEPD is set to announce the "precautionary measure" on Wednesday and has given Worldcoin 72 hours to demonstrate its compliance with the order, the report said, citing an email from the regulator.

Worldcoin and AEPD did not immediately respond to Reuters' requests for comments.

Worldcoin aims to distribute a crypto token to people "just for being a unique individual". The project uses a device to scan irises to confirm their identity, after which they are given the tokens for free.

The project has faced criticism for perceived privacy risks. It has been backed by some of the most prominent names in the venture capital industry, including a16z crypto and Bain Capital Crypto.

  - Reuters