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The Government Wants to Protect Robux From Hackers
In a new proposal issued Friday, the Consumer Financial Protection Bureau is seeking to regulate virtual currencies used in Roblox and other video games like US dollars.
The proposed rule would interpret terms in the Electronic Fund Transfer Act, or EFTA, which has traditionally been used to protect consumers from unauthorized debit transactions, to include some virtual currencies supplied by gaming and cryptocurrency companies. “Gamers—or in some cases their parents and guardians—have reported issues such as trouble when converting dollars to in-game currency, unauthorized transactions, account hacks and takeovers, theft, scams, and loss of assets,” reads the CFPB’s post announcing the proposal. “Americans of all ages are converting billions of dollars into currencies used on virtual reality and gaming platforms,” CFPB director Rohit Chopra said in a statement about these transactions last year.
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