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BIS warns of new demands on payments in the metaverse
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The Bank for International Settlements (BIS) has warned that the emergence of the metaverse could lead to new demands on payment services. The metaverse could blur the lines between tradable and non-tradable sectors and enhance cross-border economic integration. BIS emphasized the need for public policy support for efficient and interoperable payments, data privacy, digital ownership, and consumer protection in the metaverse.
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How can data privacy and consumer protection be ensured in the metaverse?
How can public policy support address the challenges posed by the metaverse on payment systems?
What are the potential benefits and risks of the metaverse in terms of economic integration?
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