South Korea expands its efforts to regulate Metaverse

2022.09.03 09:50

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 a “Metaverse Industry Promotion Law.”

As reported by local media on Sep. 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 the Eun-ah proposal.

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South Korea expands its efforts to regulate Metaverse