Swiss Metaverse Association Aims to Establish Regulations for the Metaverse for London Blockchain Conference 2024

During the London Blockchain Conference 2024, the Swiss Metaverse Association unveiled its Regulatory Position Paper, designed to aid politicians in Switzerland and worldwide in formulating “positive” regulations for the metaverse space.

One of the final topics discussed on the ‘Spotlight stage’ of the London Blockchain Conference 2024 was the metaverse, a fitting end to three days of presentations. The speaker, Dr. Daniel Diemers, co-founder and board member of the Swiss Metaverse Association, highlighted the organization’s mission to establish a comprehensive metaverse ecosystem and advocate for favorable conditions in Switzerland.

Dr. Diemers, known for his ties to Zug’s crypto valley, quipped about regulating the Metaverse and was surprised by the positive reception from the audience of blockchain and fintech enthusiasts who are supportive of regulation and compliance.

The Regulatory Position Paper was introduced as a means to facilitate dialogue among academics, startups, and regulators in the metaverse space, acknowledging the persistent nature of metaverse trends. The paper categorizes the metaverse into four ecosystems: NFTs, blockchain, and digital assets; gaming and e-sports; brands, influencers, and creators; and cloud and big tech.

The Swiss Metaverse Association established working groups to address various facets of the metaverse space, including areas such as arts, culture, insurance, payments, and regulation. Dr. Diemers emphasized the importance of reaching out to politicians with a clear and concise message to lay the foundation for future regulation similar to what was achieved in Switzerland with blockchain legislation.

Focusing on digital interaction, education programs, data privacy, IP, taxation, and other key areas, the Regulatory Position Paper aims to streamline communication with lawmakers and potential investors in the blockchain sector. Dr. Diemers concluded by expressing hope for resolving key issues in the metaverse through positive and regulated development in the coming years.

For those new to blockchain technology, CoinGeek offers a comprehensive guide in their Blockchain for Beginners section.

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