U.K. Parliament greenlights online safety bill, extending regulations to the metaverse

TL;DR Breakdown

  • The U.K. Parliament has passed the Online Safety Bill, which now extends its regulations to the metaverse, aiming to protect users from illegal and harmful content.
  • Companies are required to assess and mitigate risks of users encountering such content, with a focus on both online freedom and safety.
  • The bill awaits royal assent from King Charles and will take effect immediately unless specified otherwise, marking a significant step in internet governance.

Description

On Tuesday, the U.K. Parliament passed the Online Safety Bill, a comprehensive framework designed to protect internet users from encountering illegal or harmful content.  Notably, the bill has been extended to cover the metaverse, a collective of virtual worlds that has gained significant traction following Facebook’s rebranding to Meta. The legislation mandates companies to assess … Read more

On Tuesday, the U.K. Parliament passed the Online Safety Bill, a comprehensive framework designed to protect internet users from encountering illegal or harmful content. 

Notably, the bill has been extended to cover the metaverse, a collective of virtual worlds that has gained significant traction following Facebook’s rebranding to Meta. The legislation mandates companies to assess and mitigate the risks of users, especially children, coming across harmful or illegal material online.

The metaverse under the legislative lens

The inclusion of the metaverse in the Online Safety Bill marks a significant step in regulating emerging technologies. Lord Stephen Parkinson, a member of the Parliament’s upper house and minister at the Department for Culture, Media and Sport, emphasized that the bill was crafted to be “technology neutral and future-proofed.” 

This ensures that the legislation can adapt to evolving technologies, thereby maintaining its relevance in a rapidly changing digital landscape. The move comes as policymakers recognize the growing influence of the metaverse and the need for regulatory measures to ensure user safety within these virtual spaces.

The bill outlines specific requirements for companies to evaluate the likelihood of users encountering illegal or harmful content and to develop strategies to mitigate these risks. This dual focus aims to strike a balance between enhancing online freedom and ensuring safety, as stated in a government press release. Companies failing to comply with these regulations could face stringent penalties, thereby incentivizing a proactive approach to online safety.

The legislation has undergone rigorous debate since its introduction last March, particularly concerning its scope and the balance it seeks to achieve between freedom and safety. The bill’s passage signifies a consensus among lawmakers on the necessity of such a regulatory framework, especially in the context of new and emerging digital platforms like the metaverse.

The final step for the bill’s enactment involves approval from King Charles. Once granted, the bill will come into force immediately unless a later date is specified. This adds another layer of urgency to the legislation, underlining the government’s commitment to promptly address the challenges posed by the digital age.

In summary, the U.K.’s Online Safety Bill represents a landmark in digital legislation, setting a precedent for how governments can regulate online spaces, including emerging technologies like the metaverse. By requiring companies to assess and mitigate risks, the bill aims to create a safer and more responsible digital environment for all users. Its passage marks a significant step toward a more secure and accountable online world, potentially influencing global internet governance in the years to come. 

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional

文章来源于互联网:U.K. Parliament greenlights online safety bill, extending regulations to the metaverse

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年9月22日 08:42
Next 2023年9月22日 10:20

Related articles

  • Blockchain Capital raises $580 million for a new era in crypto investments

    TL;DR Breakdown Blockchain Capital has closed two new funds totaling $580 million, focusing on sectors like decentralized finance, centralized infrastructure, and gaming. The venture capital firm’s Limited Partners (LPs) include strategic players like Visa and PayPal and long-term committed capital from university endowments and sovereign wealth funds. Despite the significant new funding, Blockchain Capital’s general partner, Spencer Bogart, stated that the firm has no plans to diversify into other sectors like AI or to continually increase fund sizes. Description Despite the ongoing crypto bear market, Blockchain Capital has successfully closed two new venture funds amounting to $580 million, marking a significant milestone in the venture capital landscape for blockchain and cryptocurrency. Blockchain Capital’s general partner, Spencer Bogart, revealed that the two funds would be allocated in a two-thirds to one-third ratio. The larger portion … Read more Despite the ongoing crypto bear market, Blockchain Capital has successfully closed two new venture funds amounting to $580 million, marking a significant milestone in the venture capital landscape for blockchain and cryptocurrency. Blockchain Capital’s general partner, Spencer Bogart, revealed that the two funds…

    Article 2023年9月19日
  • Goldman Sachs fires 125 managing directors

    TL;DR Breakdown Goldman Sachs is cutting around 125 managing director positions globally amid a deals slump. This downsizing is part of a broader cost-saving drive, with three rounds of job cuts happening within a year. The job reductions are happening amidst a faltering deal-making climate, leading to decreased fees. The firm’s bet on consumer banking has backfired, damaging its prestigious brand and causing financial losses. Description Goldman Sachs, one of the world’s most respected banking giants, is engaging in a notable shift of strategy as it faces the realities of a rapidly changing global market landscape. Approximately 125 managing directors are slated to lose their jobs in this latest round of downsizing, as the firm copes with a notable drop in … Read more Goldman Sachs, one of the world’s most respected banking giants, is engaging in a notable shift of strategy as it faces the realities of a rapidly changing global market landscape. Approximately 125 managing directors are slated to lose their jobs in this latest round of downsizing, as the firm copes with a notable drop in its…

    Article 2023年6月27日
  • Uniswap price analysis: UNI retests $5.14 resistance; is a break above possible?

    TL;DR Breakdown The Uniswap price analysis is bullish. The next resistance for UNI/USD is present at $5.20. Strong support is found at $5.04. The Uniswap price analysis is bullish for today as the coin price function continues an uptrend. The recent uptrend started on May 16, 2023, when UNI got support at $4.91. The coin was on the decline after peaking at $6.33 on April 18, 2023, and the downtrend lasted till May 26th, losing significant value over that time. But today, the bullish momentum has started again, as the price is currently trading at $5.15, retesting the resistance present at $5.14. A further increase in UNI/USD value is also to be expected in the upcoming hours as well if buyers participate. UNI/USD 1-day price chart: Cryptocurrency value bounces back to $5.15 high The 1-day Uniswap price analysis shows bullish price action for the day as the price has re-challenged the $5.14 resistance. A constant shift in price trends has been observed since yesterday, but today the bulls secured the lead. The UNI/USD price has increased up to the $5.15…

    Article 2023年6月2日
  • Jack Dorsey sparks controversy by labeling Ethereum as security amidst regulatory tensions

    TL;DR Breakdown Jack Dorsey, co-founder of Twitter and advocate of Bitcoin, ignites controversy by labeling Ethereum (ETH) as security. The comment triggers a Twitter debate among crypto industry members and raises questions about the classification of cryptocurrencies. Dorsey’s remark comes amidst ongoing regulatory actions by the SEC against cryptocurrency exchanges, further fueling discussions on crypto regulation and the treatment of specific cryptocurrencies as securities. Former Twitter CEO and Bitcoin advocate Jack Dorsey found himself embroiled in a Twitter battle with prominent figures in the crypto industry after labeling Ethereum (ETH) as a security. The controversy unfolded when Dorsey responded with a simple “yes” to a question about Ethereum’s security status. The remark drew the attention of Udi Wertheimer, a Bitcoin developer, who referred to Dorsey as a “clown” in a tweet. clowns. pic.twitter.com/S8AiJwuMem — Udi Wertheimer (@udiWertheimer) June 6, 2023 In response to the criticism, Dorsey challenged Wertheimer’s perspective, requesting further information. Also, the debate intensified as Wertheimer shared a five-year-old video featuring the United States Securities Exchange Commission (SEC) Chair Gary Gensler, stating that Ethereum was considered “sufficiently decentralized”…

    Article 2023年6月12日
  • Canto blockchain migrates to Ethereum’s Layer 2, leveraging Polygon’s technology to revolutionize ‘neofinance’

    TL;DR Breakdown Canto, a Layer 1 blockchain, is migrating to Ethereum’s Layer 2 with the aid of Polygon’s Chain Development Kit, aiming to focus on real-world assets and contribute to a “neofinance” future. The migration will allow Canto to be part of a unified ecosystem connected to Ethereum, enhancing user security through best-in-class zero-knowledge proofs and promoting permissionless sovereignty and public liquidity. Description In a significant development for the blockchain community, Canto, a Layer 1 blockchain initially launched in 2022, announced its migration to Ethereum‘s Layer 2 (L2). The migration is facilitated by Polygon’s Chain Development Kit (CDK), a technology that enables the creation of zero-knowledge (ZK) chains. This move aims to focus on real-world assets and is … Read more In a significant development for the blockchain community, Canto, a Layer 1 blockchain initially launched in 2022, announced its migration to Ethereum‘s Layer 2 (L2). The migration is facilitated by Polygon’s Chain Development Kit (CDK), a technology that enables the creation of zero-knowledge (ZK) chains. This move aims to focus on real-world assets and is seen as a step…

    Article 2023年9月20日
TOP