The Bank for International Settlements (BIS) has issued a stark warning about the potential for fragmentation and the risks of private company dominance in the emerging virtual universe, emphasizing the key role of public policy in safeguarding the future of this digital ecosystem. In a comprehensive report released on February 7, the regulator highlighted that without strategic oversight to ensure fair access, data privacy and strong consumer protections, the Metaverse is jeopardizing economic revolution in areas such as gaming, e-commerce and education. commitments may be compromised.

In addition, the Bank for International Settlements also called on global regulators, central banks and policymakers to work together to develop regulations that promote innovation, protect users and maintain the integrity of digital transactions. The report also highlights the role of central bank digital currencies (CBDC) in ensuring that the Metaverse “remains an open, interoperable platform that is not controlled by any single entity.”