The UAE government introduces a “Responsible Metaverse Self-Governance Framework” in collaboration with Okx, highlighting global standards and the need for international cooperation in the metaverse. Learn how this white paper addresses legitimacy and self-regulation.
The United Arab Emirates government has recently unveiled a comprehensive white paper titled the “Responsible Metaverse Self-Governance Framework.” This 35-page document, created in partnership with the crypto exchange Okx, emphasizes the importance of globally accepted standards in the burgeoning metaverse.
The Minister of State for Artificial Intelligence and Digital Economy, Omar Sultan Al Olama, highlighted the white paper’s focus on recognizing the metaverse’s potential and the need for global preparedness. He also stressed that there are areas where further dialogue is essential.
The white paper advocates self-regulation and calls for international cooperation to establish common self-regulatory principles. This approach aims to create a global framework for the metaverse’s responsible and sustainable growth, addressing acceptance and legitimacy concerns.
Despite the metaverse’s promise, the UAE ministry acknowledges a significant gap due to the absence of uniform regulations and a global code of conduct in this emerging ecosystem.