Consumer watchdog calls for EU action to protect in-game currencies
Consumer watchdogs recently issued a call for the European Union to take concrete action against in-game digital currencies. The European Consumer Organization (BEUC), together with 22 member institutions from 17 countries, filed a complaint with the European Commission and the European Consumer Authorities Network (CPC-Network) on September 12, pointing out that the video game industry is using and marketing in-game currencies. There was a lot of deception in the process.
BEUC's report points out that with the increase in in-game purchases in free games and children's games, consumers' rights and interests need to be protected urgently. These organizations worry that the dual nature of in-game digital currency as a means of payment and digital content will create legal uncertainty. The report analysis believes that many consumers are prone to become victims of deception when purchasing high-end game currencies. As such, they advocate that consumer rights should apply to all transactions using in-game currencies.
In addition, the report highlights that some games only display digital currency prices without explicitly converting to real money, which may violate EU consumer protection laws. While the report doesn't specifically mention cryptocurrencies, many Web3 games operate in a similar manner, using tokens for in-app purchases.
Against this backdrop, these organizations are calling for stronger enforcement and clearer regulatory guidelines to eliminate current problems in the gambling industry. We look forward to seeing better policy implementation to protect the rights and interests of every consumer!
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