The European Commission has warned that big online players could dominate the metaverse, blocking out local companies. The EU's executive arm is set to issue proposals in the coming months, but they likely won't include a draft bill. The draft has raised fears about potential dominance from web giants like Meta, citing issues like equality, data privacy, cybersecurity, openness, and finance for local businesses. The EU recently passed a Digital Markets Act to rein in supposed anticompetitive behavior by internet giants such as Meta, Google, and Amazon, but is worried similar trends could occur in later iterations of the internet economy.

(By Jack Schickler)