Meta and Microsoft can’t self-regulate their metaverses, UK regulator warns
Melanie Dawes, the UK’s telecom regulator CEO, stated that big tech in the metaverse would not be allowed to self-regulate their virtual worlds and would instead need to comply with the country’s proposed Online Safety Bill. The proposed bill introduces heavy fines of up to 10% of annual global revenues. Furthermore, senior executives of those companies could face criminal charges in case of extreme violations.
The Online Safety Bill is a proposed legislation drafted to prevent the online sharing of harmful content. The law, yet to be approved, would require companies to create a set of strict measures to address harmful content. The legislation focuses particularly on protecting children, as it was proposed after a teen in the UK committed suicide after being exposed to self-harm-related content on social media.