According to Tusk Ventures CEO, the failure to successfully regulate cryptocurrency and social media in the United States is a ‘really good lesson for how we should handle the metaverse.’ In a February 1 appearance on CNBC’s Closing Bell, Tusk urged US authorities to ‘get ahead’ of the metaverse and impose laws sooner rather than later. He said: “Typically speaking, our policy has been that we wait for technology to be introduced to gain market fit and traction [before introducing regulation].” However, “It’s very hard to do that retrospectively.” “We know the Metaverse is coming — it’s already here in some ways. We know it’s got all the problems of the internet, probably times five or ten. So why don’t we think about it now, and get ahead of it?” He repeated this point of view in a Mirror blog post uploaded the same day, writing: “The problems we have regulating technology companies now will be reproduced and amplified in the Metaverse. You think policing state-sponsored disinformation is hard on Facebook and Twitter? Wait until you try it in 3-D.” Legislators won’t be able to design particular metaverse legislation until they have a clearer understanding of what’s coming, he suggested that they should start with cryptocurrencies and social media. “We can avoid making the same mistakes we did with Facebook, Instagram, Twitter, and social media generally if we can develop an intellectual framework for regulating the Metaverse ...
