
The Consumer Financial Protection Bureau (CFPB) has expressed concerns over financial and privacy risks associated with consumer transactions on gaming platforms. Highlighting the evolving nature of gaming, where assets can now be used as a medium for exchanging goods, services, or for peer-to-peer transfers, the CFPB has likened these transactions to traditional banking services. This comparison has led to discussions around the need for regulatory oversight in what the CFPB refers to as 'banking in video games and virtual worlds.' The agency's focus on 'money transmission' activities within gaming platforms underscores the potential need for compliance with existing financial protection laws, signaling a push towards heightened regulation in the gaming industry.





The push for heightened regulation in gaming has begun. The @CFPB has specifically mentioned the act of “money transmission” that has begun to occur in gaming with the need to “ensure compliance with protection laws” What does this mean for games? read: https://t.co/ek89S2WuaA
Is Your Video Game Account a Bank Account? The CFPB Thinks So. https://t.co/qpazGKfTSA
Is Your Video Game Account a Bank Account? The CFPB Thinks So. https://t.co/5iKWehdDcA | by @SaulEwing