On April 4, 2024, the CFPB issued a report titled “Banking in Video Games and Virtual Worlds” that examines the financial and privacy risks to consumers in online video gaming marketplaces.
The CFPB’s report explains that gaming platforms facilitate the storage and exchange of valuable assets while collecting large amounts of data from their users. According to the CFPB, the gaming marketplaces and infrastructure that facilitate the exchange of assets increasingly resemble traditional banking and payment systems, while the underlying asset exchanges increasingly resemble traditional financial products, like loans.