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ARTICLE · 05 APRIL 2024

Report Signals CFPB Taking Aim At Video Game And Virtual Worlds Industries

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On April 4, the CFPB published a new Issue Spotlight, titled "Banking in Video Games and Virtual Worlds" that analyzes the increased commercial activity within online video games...

United StatesTechnology
Moorari K. Shah
Moorari K. Shah
James Gatto
James Gatto
A.J. Dhaliwal
A.J. Dhaliwal
Mehul Madia
Mehul Madia
Maxwell Earp-Thomas
Maxwell Earp-Thomas
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On April 4, the CFPB published a new Issue Spotlight, titled "Banking in Video Games and Virtual Worlds" that analyzes the increased commercial activity within online video games and virtual worlds and the apparent risks to consumers—in this case, to online gamers. In particular, this report examines how "game assets" are being used and the associated risks, including the emergence of products or services that resemble traditional consumer financial products or services.

Report's Key Findings

  • Games and game marketplaces and associated infrastructure increasingly resemble traditional financial products and services. According to the report, companies leverage players' game assets, which include in-game currencies and virtual items, such as skins or cosmetic items, and crypto-assets, which can be transacted via in-game and external marketplaces, through person-to-person (P2P) transfers or buying and selling in-game goods and services, by

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