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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.
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.
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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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Mexico’s Central Bank Keeps a ‘Healthy Distance’ From Crypto
Banxico’s year-end report reaffirms its anti-crypto stance, highlighting legal risks, low adoption, and the need for international regulation.
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- Mexico's central bank maintains a cautious stance on digital assets, keeping them separate from its financial system.
- Banks and fintech firms in Mexico have been prohibited from offering cryptocurrencies to customers since 2021.
- The Bank of Mexico cites concerns over price volatility, cybersecurity risks, and money laundering as reasons for its cautious approach.
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