Despite the lack of practical solutions for meta-universes, international regulators will hit the virtual reality market.
Metaworlds will become a new “battleground” for regulators.
This was the opinion of analysts of the blockchain firm Elliptic in their report. Experts believe that regulators will take on the virtual reality market as soon as they put an end to cryptocurrencies.
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It has been argued that regulatory changes can be expected as early as 2023, as Europol has previously pointed to cybercrime activity in virtual reality.
At the same time, Elliptic admits that regulators may extend the existing laws to the meta universe in order “not to re-invent the wheel,” as is happening now with cryptocurrencies.
Elliptic did not specify how much regulation could be imposed on the virtual reality industry.
Europol experts have previously warned that 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 revealed that Interpol wants to shift its powers to meta-universe platforms in order to prevent crimes in virtual space.
As Interpol Secretary General Jurgen Stock said, the organization must be prepared for new challenges in advance, so as not to be left out of the metacommunity and related technologies.
For now, however, the organization is working on a legal justification for extending its powers to meta-universe platforms, which are already being used by some groups to commit crimes.
In the meantime, the organization is working on a legal justification for expanding its powers to meta-universe platforms.
As estimated by analysts at the U.S. financial giant Citibank, by 2030 the valuation of the meta-universe 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 miscreants as well as individuals with bad and abusive intentions.