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European Commission to ensure ‘healthy competition’ in the metaverse
Margrethe Vestager, the competition commissioner, stressed the need to anticipate and plan for changes in technological advancements.
Considering the regulatory struggle to keep up with ever-evolving innovations, Margrethe Vestager, the executive vice president of the European Commission for a Europe fit for the digital age, and commissioner for competition since 2014, recommended a headstart into brainstorming implications of technologies such as the metaverse and ChatGPT.
While speaking about competition policy at the Keystone Conference, Vestager highlighted how the digital transition and the shift to a digital economy had brought risks and opportunities for everyone.
The commissioner also revealed that the European Commission would enforce antitrust investigations from May 2023 aimed at the Facebook marketplace and how Meta uses ads-related data from rivals.
Feb. 15 marked the launch of the European Blockchain Regulatory Sandbox, which provides a space for regulatory dialog for 20 projects per year through to2026.
On the other end of the spectrum, European Union lawmakers are in talks about using zero-knowledge proofs for digital IDs.
Zero-knowledge proofs have recently been at the center of researchers’ attention as a way to ensure regulatory compliance and privacy in digital currencies.