Virtual space, commonly called cyberspace is often regarded as a borderless phenomenon- one which is limitless and boundless. Cyberspace, therefore, has often been compared with an unruly horse. In this world, there exist two separate worlds- one that exists in reality and the other that exists in virtual reality. Cyber World is a very novel phenomenon, emerging in the last two decades that has expanded its roots everywhere, crossing boundaries. No wonder it is said that in cyberspace, no one is the sovereign and everyone is the master. It is the other World where anonymity becomes a shield and a sword for users and it is for this reason that it cannot be left unfettered and there arises a need for regulating people’s behaviour in the Other World. Therefore, this research paper discusses the risks that cyberspace poses to the users and the need for regulatory frameworks. The paper discusses the various models of regulation of cyberspace and the researcher has proposed a multi-modal approach to the regulatory framework in line with the current requirements.