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Financial Transactions Video Games

Orrick, Herrington & Sutcliffe LLP

CFPB Envisions Increased Scrutiny of Video Game Financial Transactions and Data Practices

For the first time, the Consumer Financial Protection Bureau (CFPB) has publicly expressed interest in regulating video game companies for financial transactions they offer and consumer data they collect....more

Ballard Spahr LLP

CFPB report on banking in video games and virtual worlds

Ballard Spahr LLP on

On April 4, 2024, the CFPB issued a report examining the growth of financial transactions in online video games and virtual worlds. The report, titled “Banking in Video Games and Virtual Worlds,” highlights the growth and...more

Morgan Lewis

CFPB Identifies Significant Financial and Privacy Risks in Video Gaming Marketplaces

Morgan Lewis on

The Consumer Financial Protection Bureau (CFPB) recently released a comprehensive report detailing growing financial transactions within video gaming and virtual worlds, which increasingly mimic traditional monetary systems....more

Husch Blackwell LLP

CFPB Levels Up: Consumer Risks in Gaming Draws Regulatory Scrutiny

Husch Blackwell LLP on

If you thought virtual reality was free from real-world regulations, think again. On April 4, 2024, the CFPB released an Issue Spotlight that dives deeply into a realm the agency had not previously traversed—video games and...more

Perkins Coie

CFPB Issues New Report Examining Financial and Privacy Risks to Consumers in Video Gaming Marketplaces: What Now?

Perkins Coie on

On April 4, 2024, the Consumer Financial Protection Bureau (CFPB) issued a new report, titled “Banking in Video Games and Virtual Worlds” (Report), that examines the growth of financial transactions in online video games and...more

Cozen O'Connor

The State AG Report – 4.11.2024

Cozen O'Connor on

Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •CFPB Not Playing Games with Financial and Privacy Risks - ...more

Polsinelli

A Pocketful of Quarters: SEC Provides Digital Asset Offering Guidance

Polsinelli on

On July 25, the staff of the U.S. Securities and Exchange Commission (“SEC”) Division of Corporation Finance published a response to a no-action request submitted by Pocketful of Quarters, Inc. (“Pocketful of Quarters”)...more

Carlton Fields

Impact of New State Remote Sales and Use Tax Laws on Gaming

Carlton Fields on

This article examines the impact of new state laws that have emerged since the Supreme Court's decision in Wayfair, which would permit the collection of sales and use tax on remote transactions. This article specifically...more

Ballard Spahr LLP

Popular Video Game Serves as a Reminder of Regulatory Risks of In-game/In-app Virtual Currencies

Ballard Spahr LLP on

“V-bucks,” the in-game virtual value currency of the wildly popular video game, Fortnite, is reportedly being used to launder the proceeds of stolen credit cards....more

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