Affective Computing is the study and development of systems that can automatically recognize, simulate and elicit emotions to users (Picard, 2000). It has been applied in several areas such as education, security, healthcare and entertainment (Daily et al., 2017; Gross & Levenson, 1995). In most of the studies, emotion recognition and elicitation has been carried out with non-immersive environments (Aharonson & Amir, 2006; Faita et al., 2016). Virtual Reality (VR) is defined as an artificial environment created with computer hardware and software and presented to the user in such a way that it appears and feels like a real environment (Aukstakalnis et al., 1992). It provides simulated experiences increasing the feeling of immersion or presence experienced by the user (Okechukwu & Udoka, 2011). In past years, even recent, affective interactions using VR have been analyzed in studies which demonstrate that virtual environments can be used to recognize or elicit emotions in the user such as relaxation, stress or anxiety (Marín-Morales et al., 2020; Riva et al., 2007). In addition, some works show that emotional content increases the sense of immersion in a virtual environment (Gorini et al., 2011; Marín-Morales et al., 2018). However, regardless of the various studies conducted, the success of emotion recognition in virtual reality scenarios will depend on how safe can be made and how the privacy of users can be protected and respected (Cowie, 2014). In addition, users must be able to trust the virtual reality scenario knowing that their emotional states can be recognized and elicited. The purpose of this panel is to address several points regarding ethics and privacy issues, risks, challenges and opportunities about the impact that emotion recognition and elicitation can achieve in virtual reality scenarios.