Europe To Introduce Legislation Governing Digital Currencies And The Metaverse - InvestingChannel

Europe To Introduce Legislation Governing Digital Currencies And The Metaverse

The European Commission says it will publish this spring new legislation governing a %DigitalEuroCurrency, as well as the %Metaverse and other virtual worlds.

The European Central Bank (ECB) has yet to decide whether to issue a digital currency for the European Union. However, the commission says that new laws might be needed to assert a digital Euro’s status as legal tender, as well as to counter money laundering.

The digital currency legislation is scheduled to be published on May 24 of this year.

The European Commission is also planning to introduce separate legislation aimed at regulating the Metaverse and other virtual worlds. That legislation is slated to be introduced on May 3.

The commission has previously expressed concerns that companies such as MetaPlatforms ($META) could dominate the Metaverse and other virtual realms and hurt competition.

The commission has also raised concerns about the impact virtual worlds will have on consumers, particularly children.

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