Luxembourg's competition authority;has launched;a market study into blockchain and Web3 technology.;
The study marked the first attempt to investigate the competition and antitrust law breaches in the field.;
The study will analyze the competition areas of new;blockchain;companies with existing Web2 companies and identify the anti-competitive practices implemented against;Web3;firms.;
- The agency said it is important to ensure that Web3 companies can operate in an effective and competitive market.;
- Thibaut Schrepel, an associate professor at the University of Amsterdam who will help with the probe as an external expert, stated that the probe is the first market study conducted by a regulatory agency seeking to protect Web3 rather than attacking it.;
The market studies conducted by antitrust authorities collect information from active firms in a particular industry about how the market works.;
- These studies can also be a basis for further enforcement actions regarding violations of antitrust laws.