South Korea will challenge a tenet for regulating the metaverse as a substitute of making use of current legislation on video video games, the Ministry of Science and ICT (MSIT) announced at a authorities briefing on Wednesday.

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The rule of thumb that will likely be used to higher promote and disentangle the metaverse from video video games will likely be ready inside this yr.“We will not make the mistake of regulating a new service with an existing law,” stated Park Yoon-kyu, director-general of the Workplace of ICT Coverage beneath the MSIT, whereas acknowledging some parts of the metaverse examine with conventional video video games.There may be ongoing debate in South Korea on whether or not to designate the metaverse as a online game.South Korea presently bans on-line or cellular video games from adopting cashable reward techniques, together with these utilizing blockchain expertise, to forestall extreme hypothesis.Not too long ago Ifland, an area metaverse beneath SK Telecom, adopted a degree reward system that sure customers can liquidate. SK Telecom informed Forkast that its metaverse shouldn’t be affected by the sport restrictions in Korea.The announcement is a part of the primary dialogue beneath the brand new cross-ministerial committee overseeing the digital knowledge trade.

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