Metaverse and law regulations in it

Metaverse future is inevitable. In 2021, Metaverse real estate sales top $500 million and could be doubled this year. Lawyers are expected to play a big part in the new digital-only world. 

 When becoming a part of the metaverse, we will likely have to accept a certain range of rules and policies, just as we accept them when updating software or launching a new program.  

 We assume that states will intervene in the metaverse for it to comply with real-life laws. To do that, we may be required to authorize in the metaverse using our passport data or government services. But will these laws work in the metaverse? Probably, a special metaverses regulation will appear at the legislative level.  

 In terms of issue complexity, the metaverse laws regulation can be compared to the cryptocurrencies. Since the metaverse is likely to tightly integrate with the use of cryptocurrencies, it will immediately be reviewed by the governments. Alongside cryptocurrency, an important thing to mention is the administrator`s access to the users` data. Therefore, personal data is one of the main aspects to be regulated.  

 The concept of metaverse may be exciting, frightening, or challenging. We don`t know what shape it may take, but one thing we know for sure is that the metaverse future is inevitable. Besides obvious advantages, metaverse raises a range of questions and security challenges in terms of legal activities. What`s the lawyers` part in the digital world and how they may operate in a digital-only world? Let`s think of it.  

 In this article, we suppose what kinds of legal issues might appear in the new metaverse. As you read, please keep in mind that these are presumptive points based on currently available information about the metaverse. 

 When becoming a part of the metaverse, we will likely have to accept a certain range of rules and policies, just as we accept them when updating software or launching a new program. But what kind of rules will it be and who will set them? 

 We assume that states will intervene in the metaverse for it to comply with laws. To do that, we may be required to authorize in the metaverse using our passport data or government services.  

 Will the real-life laws work in the metaverse? There is no single answer for now. Probably, a special metaverses regulation will appear at the legislative level. In terms of issue complexity, the metaverse laws regulation can be compared to the cryptocurrencies. Since the metaverse is likely to tightly integrate with the use of cryptocurrencies, it will immediately be reviewed by the governments.  

 Alongside cryptocurrency, an important thing to mention is the administrator`s access to the users` data. Therefore, personal data is one of the main aspects to be regulated, along with cryptocurrencies. 

 When talking about disputes that may appear, there are three main groups: 

 – User VS administrator 

May be resolved by the rules of the metaverse. If the parties do not agree, the dispute should be solved in real-world court. 

– User VS user 

If the dispute does not infringe on a person`s rights in the real world, it may also be resolved according to the metaverse rules. For example, metaverse courts may be created. As an option, the metaverse court may be the first instance court and the real-world court will be the highest one. 

– Administrator VS administrator 

Just as user VS user disputes, these types of disputes may be resolved in a metaverse court, with an option to appeal to a real-world court.

To sum up, no special rules are expected at the beginning, the metaverses and their activities will be regulated based on already existing laws and clarifications of regulatory bodies, which will appear as the metaverses evolve.