Genshin Impact’s developer to pay $20 million fine to settle FTC charges

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The Federal Trade Commission announced on Friday that Genshin Impact developer Cognosphere has agreed to a $20 million settlement and several restrictions on how it sells its loot boxes and manages children’s personal data. According to the FTC, the company “actively marketed” its loot boxes to children and misled players about their odds of winning prizes.

Cognosphere allegedly also “deceived children and other users about the real costs of in-game transactions,” by requiring them to buy virtual money that involved multiple currency…



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Genshin Impact’s developer to pay $20 million fine to settle FTC charges


The Federal Trade Commission announced on Friday that Genshin Impact developer Cognosphere has agreed to a $20 million settlement and several restrictions on how it sells its loot boxes and manages children’s personal data. According to the FTC, the company “actively marketed” its loot boxes to children and misled players about their odds of winning prizes.

Cognosphere allegedly also “deceived children and other users about the real costs of in-game transactions,” by requiring them to buy virtual money that involved multiple currency…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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