Facts US consumer agency warns of risks of cryptocurrency investments
The U.S. Consumer Financial Protection Bureau (CFPB) has released a report warning about the risk of fraud and consumer protection in video games and virtual worlds, especially in cryptocurrency.
The report highlights concerns about game developers increasingly connecting virtual items with reality.
While still following mainstream gaming platforms like Roblox or Fortnite, the agency has emphasized the growth of crypto assets in the virtual world.
Third-party trading platforms allow users to transfer dThe CFPB report says online video games and virtual worlds are becoming more similar to traditional banking but lack federal protections.
The agency has received complaints regarding hacking attempts, account theft and loss of in-game assets, with consumers expressing dissatisfaction over the lack of support from gaming companies .convert digital assets into fiat currency.
The report states:
“Notably, some of the world's largest virtual game publishers have expressed growing interest in positioning their virtual goods as crypto assets capable of being traded outside the platform. economics of the game.”
The CFPB report warns that crypto assets in virtual environments like Decentraland and The Sandbox can be exchanged for fiat currency on other cryptocurrency platforms. Paradigm's Alexander Grieve said that such reports could signal upcoming legal action.
