EU Antitrust Director Vestager Shows Interest in Regulating the Metauniverse

03/02/2023 09:53 • Blockchain Briefs • 121 views

According to the report, the EU antitrust director Margrethe Vestager said that the virtual world accessible through the Internet was the next digital market to attract regulatory review. Vestager said at a meeting that it is time for us to start thinking about what healthy competition looks like in the metauniverse, and we have started this work. In the past three years, the global regulatory review of the digital market has been upgrading. Reuters

EU antitrust director: It is necessary to review the competition in the metauniverse

Analysis based on this information:

The message suggests that the European Union’s antitrust director, Margrethe Vestager, is taking interest in regulating the virtual world or the metauniverse accessible through the internet. She feels that it is the next digital marketplace to attract regulatory review. Vestager stated that it is time for us to start thinking about what healthy competition looks like in the metauniverse, and that they have already started working on it.

This development is significant because the metauniverse is an ever-expanding digital realm encompassing vast virtual social and economic communities, which have gained significance with the advent of virtual reality and augmented reality. The metauniverse is also expected to become an essential aspect of our lives in the future. Therefore, regulating it would be critical to ensure fair market competition, consumer protection, and privacy.

The message shows that in the past three years, global regulatory reviews of the digital market have been upgrading. This means that there has been a rise in concerns over the practices of tech giants that dominate the digital market. For instance, there have been antitrust investigations into the likes of Google, Facebook, and Amazon over their exploitative business practices, such as stifling competition and collecting consumer data without consent.

The EU’s antitrust regulatory body has also been active in investigating such practices. Vestager, in particular, has been known for taking a strong stance against tech giants found guilty of antitrust violations. The message suggests that Vestager is now extending her focus to the metauniverse, which could be a significant next step in regulating the digital market.

In conclusion, the EU Antitrust Director, Margrethe Vestager, has shown her interest in regulating the metauniverse. The virtual world accessible through the internet has become the next digital marketplace to attract regulatory review. This development is significant because regulating the metauniverse would ensure fair market competition, consumer protection, and privacy. The message also highlights the global regulatory review of the digital market in the past three years, indicating the growing concerns over tech giant’s exploitative practices.

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EU Antitrust Director Vestager Shows Interest in Regulating the Metauniverse

EU antitrust director: It is necessary to review the competition in the metauniverse

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