Elliptic: After cryptocurrencies are ‘resolved’, regulators will take on the metaverse
Despite the lack of practical solutions in the field of metaverses, international regulators will hit the virtual reality market.
The metaverses will become a new “battlefield” for regulators. This opinion was presented in their report by analysts from the blockchain firm Elliptic. According to experts, regulators will take over the virtual reality market as soon as they do away with cryptocurrencies.
It is argued that regulatory changes can be expected as early as 2023, since Europol has already indicated the activity of cybercriminals in virtual reality. At the same time, Elliptic admits that regulators can extend existing laws to the metaverse in order to “not reinvent the wheel”, as is currently happening with cryptocurrencies. How much they can regulate the virtual reality industry, Elliptic did not specify.
As Europol experts have previously warned, virtual reality could become “a new form of the Internet”, where cybercriminals will try to take advantage of new opportunities. The European Union (EU) Police Service called on the authorities of the political bloc to anticipate changes and “be ready to ensure the safety of citizens in virtual reality.”
In February, the media found out that Interpol wants to transfer its powers to the platforms of the metaverse in order to prevent crimes in the virtual space. According to Interpol Secretary General Jurgen Stock, the organization must be ready for new challenges in advance so as not to remain outside the metaverse and related technologies. However, for now, the organization is working on a legal justification for expanding its powers to the platforms of the metaverse, which are already being used by some groups to commit crimes.
According to analysts at the American financial giant Citibank, by 2030 the valuation of the metaverse industry could grow to $13 trillion. The figure indicates not only the attractive investment potential of the industry, but also the inevitable involvement of digital intruders, as well as those with malevolent and offensive intentions.
Source: bitcoinlinux.com
