Facebook: Persuading U.S. lawmakers to give cryptocurrency another chance to let NFTs drive the thriving metaverse

ChainCatcher news, Facebook is trying to persuade U.S. lawmakers to give cryptocurrency another chance and not to impose overly strict regulations due to the FTX bankruptcy and SBF's fraud allegations. Instead, they should allow the NFT-driven metaverse to thrive, as the metaverse is expected to add $3 trillion to the global GDP by 2031. Therefore, they hope lawmakers will not treat the metaverse's Web3 components the same way they treated Libra.

Facebook wants regulators to adopt a regulatory framework that does not exclude revenue streams from non-advertisers, which would better provide creators with "monetization tools," access to digital assets and markets, community interaction, and consumption of digital products and services. (vice)