South Korea expands its efforts to regulate Metaverse By Cointelegraph

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South Korea expands its efforts to regulate Metaverse

Published Sep 02, 2022 08:22AM ET Updated Sep 03, 2022 10:40AM ET

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South Korea expands its efforts to regulate Metaverse

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 country’s government is now preparing the Metaverse Industry Promotion Ac.

As reported 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-ah's proposal.

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South Korea expands its efforts to regulate Metaverse

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