EU Commissioner Says Metaverse Regulations Must Protect Users

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    EU Commissioner Yvo Volman said today that Metaverse regulation should prevent discrimination and protect user privacy.

    Speaking at the DG Connect event in Brussels, data director Yvo Volman said blocks will have to consider issues of inclusion, equality and user privacy protection in the next law due in May 2023. I said yes.

    While acknowledging the potential of the Metaverse in surgery and learning, he emphasized that people should be equipped with tools to protect themselves in these virtual spaces.

    As Coindesk reported, “You have to get it right the first time,” Volmann said.

    His words also come as the EU is about to embark on a rule-making initiative for the Metaverse. The move was first revealed by EU President Ursula von Der his Rien in his 2022 State of the Union address.

    In January 2023, the agency announced its annual agenda and appointed European Commissioner Margarete Vestager as head of the Metaverse Initiative.

    Prior to his appointment, Vestager said Metaverse regulation would have to address the companies that dominate the segment.

    “The Metaverse presents new markets and different businesses. There will be markets where someone could dominate,” said Vestager. Said Political Center publication Politico in January 2022.

    Vestager also saw the EU’s digital market law come into force in November 2022. The law outlines the responsibilities of “gatekeepers” for companies that control certain markets. The law will come into force in May 2023 and is expected to be fully enforced by the end of the year.she Said The Verge.

    Antitrust considerations are becoming an important part of Web 3 regulation.

    Last July, the US competition watchdog, the Federal Trade Commission (FTC), attempted to block the acquisition of Within Unlimited, a company specializing in virtual reality (VR), by social media turned metaverse company Meta. I tried. The agency claimed Meta had its own successful fitness app and was looking to buy its way to the top. Mehta won the lawsuit, previous acquisition Designed to power the virtual reality app store.

    Last year, the FTC tried to block Microsoft’s $69 billion acquisition of gaming giant Activision Blizzard. In its initial acquisition filing, Microsoft saw its acquisition as essential to building a business-focused metaverse.

    To reassure regulators, Microsoft recently announced a partnership with Nvidia to make Activision’s games available on Nvidia’s GeForce Now platform, which directly competes with the Xbox Cloud.

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    BeInCrypto has reached out to the companies or individuals involved in the story to obtain an official statement regarding the recent developments, but has yet to hear back.


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