The EU_Commission is analyzing the metaverse before considering what regulatory actions to take, vestager said. By JamieCrawleyCD
The European Union is analyzing the metaverse and the potential actions needed for regulatory control, Executive Vice President of the European Commission, Margrethe Vestager said.
Vestager said that authorities need to understand the metaverse better in order to decide the best course of regulatory action. "The metaverse is here already. So of course we start analysing what will be the role for a regulator, what is the role for our legislature," Vestager said in an online event on Tuesday,"Everything we do must be fact-based and based on the information that we can get. We need to understand it before we can decide what actions would be appropriate," Vestager added.
The metaverse is a conceptualized virtual world where the internet eventually becomes an immersive virtual space that can be used for work, play, socializing, experiences and events.
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