Binance CEO Reacts to UAE’s New Metaverse Initiative

• UAE introduces “Responsible Metaverse Self-Governance Framework” in collaboration with Dubai’s Department of Economics.
• Binance CEO Changpeng Zhao supports the UAE’s regulatory outlook, signifying the crypto industry’s endorsement.
• UAE adopts a proactive approach to encourage innovation while ensuring user and enterprise protection in the metaverse.

The United Arab Emirates has introduced a new governance framework aimed at ensuring the ethical growth of the metaverse.

The UAE Minister of State for Digital Economy, A.I., and Remote Work Applications, Omar Sultan Al Olama, announced the launch of the “Responsible Metaverse Self-Governance Framework” white paper.

Developed together with Dubai’s Department of Economics, the framework looks to support the expansion of the metaverse economy while tackling challenges and capitalizing on opportunities.

The UAE’s initiative outlines guiding principles and best practices for metaverse governance spanning areas like data privacy, content moderation, and financial crime prevention.

By taking a proactive governance approach, the UAE hopes to foster innovation while protecting users and enterprises in the b…

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