Meta published a position paper on its most recent thoughts on regulation in the metaverse on December 2, 2022. Noting its ongoing work with the Metaverse Standards Forum (which Meta established in June 2022 and now has a 1,800-member organization ), the position paper reiterates Meta’s position that interoperability and portability are ultimately key to the success of the metaverse.

While acknowledging that regulators and policymakers are paying considerable attention to the application of blockchain technology in the financial services industry (for example, cryptocurrency exchanges), Meta stresses that “it is important to recognize that blockchain also has broad non-financial applications that can be fundamental to the metaverse economy”, i.e. blockchain-based non-financial NFTs.

The…