South Korea expands its efforts to regulate Metaverse
TeknolohiyaPinalawak ng South Korea ang mga pagsisikap nito na i-regulate ang Metaverse09 / 03 / 2022Balita ng Ethereum ng Bitcoin South Korea continues its immersion in Web3 and the Metaverse. After investing almost $200 million in the creation of its own metaverse ecosystem and publishing the “Metaverse Ethical Principles,” the countrys government is now preparing the Metaverse Industry Promotion Ac. As iniulat by local media on Sept. 1, Heo Eun-ah, a member of the National Assembly with an entrepreneurial past, proposed the enactment of the Metaverse Industry Promotion Act to support the Web3 industry. A number of other National Assembly members supported Eun-ahs proposal. According to the bill, the Metaverse Policy Review Committee, subordinate to the Prime Minister, would deliberate on the policies promoting Metaverse development in the country, while the Minister of Science and Information and Communication Technologies should be defining a final plan every three years. The bill also implicates the incentives for companies that would switch their operations to the Metaverse while satisfying thexcellence criteria such as protecting personal users data. According to the Ministry of Science and Information and Communication Technologies data, the government budget for major projects related to Metaverse will reach 195.4 billion won (around $140 million) in 2023.