"We're constantly looking at new and emerging technology, and I've said how exciting it is right now."

This interoperable virtual environment allows for social engagement, games, and even live concerts. While it may be seen on a browser, it is improved when used with virtual or augmented reality (AR).

APPL dipped almost 3% to $159.22 during regular trade but is currently up 8% to $167.23 after-hours. One of the topics discussed was the Metaverse.

Cook stated on Thursday's call that Apple (APPL) currently has 14,000 applications produced using the augmented reality developer platform ARKit. ARKit apps may let users to enter the Metaverse.

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Unlike Meta, Apple has mainly relied on augmented reality technology to immerse people in the Metaverse. Apple had intended to introduce a headset in 2022, but according to Bloomberg, difficulties with hardware and software may cause a delay.

The current headgear being developed is considered to be largely focused on gaming, communication, and content consumption. It has lagged behind other major giants like Meta and Microsoft, both of which have stated their desire to innovate in the Metaverse.

Joe Biden will advocate for cryptocurrency regulations on the grounds of national security

The Biden administration wants to take advantage of the opportunity to gain greater control over the Bitcoin industry.

The White House is reportedly preparing to issue an executive order declaring cryptocurrency regulation a matter of national security in the coming weeks, elevating the priority given to crypto regulation by multiple federal departments.

To identify and limit the capabilities of the different entities engaged, the national security memorandum would reportedly coordinate all levels of government.

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Currently, opinions differ on various aspects of bitcoin and the use of cryptocurrencies in commerce. The IRS, CFTC, SEC, and OCC have all issued remarks affecting the crypto industry. Even law enforcement agencies have worked together on similar projects, including breaking privacy coins.

According to an unnamed Barron's source, Biden and his advisors are seeking the intellectual unity that previous administrations lacked:

"The goal is to develop a set of laws that would bring consistency to the government's activities in this arena,"

These rules would be issued by the State Department, the Treasury Department, the National Economic Council, Council of Economic Advisors, and the White House National Security Council.

A collection of proposals to enhance international collaboration on this issue is also desired. The unnamed insider said the Biden administration valued international "synchronization" cooperation.

Joe Biden's efforts to manage the bitcoin environment have aroused distrust among fans and businesses. Last year, renowned entrepreneurs warned that the Infrastructure Bill's planned classification of decentralized wallets, DeFi protocols, and other cryptocurrency players as brokers might cripple their functionality.

Moreover, as Coincenter's Jerry Brito points out, the America COMPETES Act might harm the cryptocurrency economy by allowing the Treasury Secretary to unilaterally ban exchanges and other financial institutions from doing cryptocurrency transactions.

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1. If passed, this bill would be devastating for cryptocurrencies, as well as for privacy and democratic public process in all financial transactions.

The White House has not commented publicly on the national security dossier. America COMPETES Act and Infrastructure Bill are expected to be passed by the bureaucracy.