The Luxembourg Competition Authority has announced the launch of a market study into blockchain technology, with the aim of ensuring that Web3 actors can develop in an effective and competitive market. The Autorité de la Concurrence stated that Given the strong potential of the sector, it’s important to ensure that Web3 actors can develop in a market that is effective and competitive. The study will examine how blockchain-based companies compete with existing Web2 internet companies, and document potential anti-competitive practices implemented against Web3 projects. Thibaut Schrepel, an associate professor at the University of Amsterdam who will help with the probe as an external expert, said that To the best of my knowledge, it’s the first market study conducted by a regulatory agency whose goal is to protect Web3, not to attack it. The European Commission is set to issue a policy paper on the metaverse later this year, which is expected to consider options if major companies such as Meta Platforms (META) squeeze out smaller rivals.
Luxembourg Competition Authority Launches Market Study into Blockchain Technology
