EU Antitrust Chief Sees No Need to Regulate the Metaverse

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Margrethe Vestager, EU’s antitrust chief, has given an update about user privacy and the regulation of the 3D virtual world. Speaking on Thursday, Vestager stated that due to the current array of legislation drafted in the past 5 years expediently assessing Big Tech, the sector has time to explore the metaverse without fear of immediate intervention after reports of the emergence of Microsoft, Apple, and Meta Platforms had surfaced. According to Vestager, said influential companies will not simply own the metaverse, though it is uncertain in which direction it will move. A conference next week seems set to clear up at least some apprehensions related to the regulation of users’ privacy. In February of 2022, EU antitrust regulators briefly proposed that options for regulating the metaverse were in consideration, yet now they apply with the same assumption to incumbents, pending laws requiring ones’ consent for attributes such as artificial intelligence potential being stored. Yet, certain initiatives drove US industry operators to pushback, as evidenced by the filing against Binance and Coinbase recently, prompting investigate as to potential reactions from those entrapped should Big Tech regulations be enforced.

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Robert Wilson author
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