The United Arab Emirates government has recently introduced a white paper titled the "Responsible Metaverse Self-Governance Framework." In a statement by Omar Sultan Al Olama, the Minister of State for Artificial Intelligence and Digital Economy in the country, the document primarily emphasizes the significance of universally accepted operational standards.

The minister also mentioned that this white paper, developed in collaboration with the crypto exchange Okx, not only highlights the potential of the metaverse but also identifies areas where the global community needs to bolster its preparedness. However, Al Olama cautioned that there are "several areas" that still "require further dialogue," as outlined in their paper.

Within the 35-page white paper, the authors emphasize the significance of self-regulation and reaffirm the necessity for international collaboration.

The authors also noted that such actions aid in addressing challenges related to acceptance and legitimacy within the sector.

At the same time, in an official press statement, the UAE ministry acknowledged the presence of a "significant gap." They attributed this gap to the lack of consistent regulations or a universal code of conduct for functioning within this evolving ecosystem.