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Metaverse Competition Issues Need Addressing, EU Antitrust Chief Says
The European Commission is set to produce a strategy for online virtual worlds in May.
Updated Mar 2, 2023, 3:30 p.m. Published Mar 2, 2023, 10:06 a.m. 1 min read
The EU’s antitrust chief, Margrethe Vestager, wants to ensure healthy competition exists within metaverses as the European Commission prepares to publish a strategy for online virtual worlds in May.
“It is already time for us to start asking what healthy competition should look like in the metaverse,” Vestager, who is European Commissioner for competition and digital affairs, said at an event in Brussels according to a published text. She also referred to the impact of artificial intelligence service ChatGPT.
The EU has recently legislated to stop online giants such as Meta from blocking smaller rivals, and officials have already queried whether the metaverse will need specific protections for competition, as well as discrimination and safety.
Read more: EU Metaverse Policy Should Consider Discrimination, Safety, Data Controls: Commission Official
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‘The banks will not accept it’: Dimon escalates battle over stablecoin rewards in CLARITY Act debate
JPMorgan CEO Jamie Dimon criticized Coinbase CEO Brian Armstrong and warned the current CLARITY Act framework could ultimately fail, as banks and crypto firms clash over whether stablecoin issuers should be allowed to offer yield-bearing rewards that resemble bank deposits.
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- JPMorgan Chase CEO Jamie Dimon criticized Coinbase CEO Brian Armstrong and warned that the latest CLARITY Act draft could fail if lawmakers do not address banks’ concerns over stablecoin regulation on Friday.
- Dimon argued that the bill would let stablecoin issuers effectively pay interest on deposits without bank-style protections, predicting...
