European watchdogs demand game companies stop predatory virtual currency sales to children

Bottom line: Regulators in Europe are once again trying to crack down on predatory gaming practices. This time, they have set their sights on in-game currencies. It is the EU's stance that in-game currencies are primarily used to manipulate and deceive customers to continue buying, and they aren't wrong. Europe's Consumer Protection Cooperation Network (CPCN) has initiated an enforcement action with the European Commission (EC) to reign in the predatory monetization of a gaming company called Star Stable Entertainment, maker of the MMORPG/horse simulation "Star Stable Online." The CPCN aims to force the developer to be more transparent about the actual costs of in-game purchases. It's asking for a soft ban on in-game currency since no formal laws explicitly prohibit it. Like many other game companies, Star Stable obfuscates the actual cost of in-game products by listing them in the game's virtual currency, "star coins." The problem is that star coins aren't a one-to-one conversion to ... Read full article.