No Plans To Regulate Metaverse, Web 3.0 As These Are Evolving Technologies: Government

Government has said that it has no plans to apply any regulations on Metaverse or Web 3.0, as these technologies are still evolving

Government has said that it has no plans to apply any regulations on Metaverse or Web 3.0, as these technologies are still evolving. This was informed by Minister of State for Finance Pankaj Chaudhary in Parliament, in response to a question on them. 

Finance Ministry sources have said that they are aware of the emerging new technologies as well as rapid proliferation of technologies like Artificial Intelligence, Blockchain, Drone, Augmented Reality, Metaverse and Web 3.0.

They further added that national strategies has already been formulated by the government on Artificial Intelligence and Blockchain.

Also, the Information Technology Act, 2000 covers the technology sphere in the country, and therefore government does not intend to regulate such evolving sectors.