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Why Do Real World Laws Be Required To Regulate Such Activities?

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The Internet is unquestionably having a profound impact on many aspects of social, culture, economic, and legal systems throughout the world, moreover, enabling significant advances in global communication technologies, that make it more possible to contemplate the development of a more complex global information society. Such a global society offers many benefits to humankind, but incorporating regulation to enable and promote these information societies present challenges. However, such challenges create difficult questions for those making legal decisions: Do real world laws apply to virtual world problems? Can the laws adapt to regulate such activities? Are existing laws outdated and inadequate? Will new laws be required to suite Internet activities and other information technology developments? Cyber threats pose a real danger, …show more content…

The engine of the Internet economy has countries scrambling to enact popular start-up markets, ease e-commerce taxation, and climates conductive to foreign investments in online media properties. As an example, Canada has the highest Internet usage in the world, but an unfavorable tax regime and a lack of start-up capital are causing the country to fall behind the United States in the e-commerce economy. Canadian taxes, government regulations, and capital markets created a slow growth of Internet business. Furthermore, this has eased the distribution and duplication of information and products from e-commerce sales across borders. Serious issues such as copyright, encryption, trademark, and regulation of currencies being raised, therefore are forcing the U.S. Federal Trade Commission and the Treasury Department to issue warnings against proliferation of commercial scamming, Internet fraud, and potential money laundering by unscrupulous agents operating over the

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