Metaverse Needs Regulatory Scrutiny, Says EU Antitrust Chief

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EU antitrust chief Margrethe Vestager has said that metaverse is the next digital market to attract regulatory scrutiny.

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Vestager said in a conference that it is the right time to ask what heathy competition would look like in the metaverse.

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The antitrust chief asked whether it would change the equation when there are competing digital realities and language Al models like ChatGPT.

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Do we need to do more on something new? And obviously we have started that work, she added

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According to the regulator, there's a much wider political debate that digital markets need careful attention.

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"We will not get the same legal framework. And maybe that is not a bad thing,'' she added.

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Since Facebook changed its name to Meta, regulators have been worried about the monopoly of the tech giant on the emerging industry.

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The metaverse, shared virtual worlds accessible via the Internet, is the next digital market to attract regulatory scrutiny, EU antitrust chief Margrethe Vestager said on Thursday

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