The company will pay, and make changes to its disclosures

The FTC penalized the Genshin Impact developer for misleading marketing around loot boxes and breaching child privacy laws.

Genshin Impact developer Cognosphere (aka Hoyoverse) has agreed to a $20 million settlement with the U.S. Federal Trade Commission (FTC) over its gacha loot box monetization and is now banned from selling them to teens under the age of sixteen without parental consent.

Genshin Impact developer Cognosphere has agreed to pay the FTC $20m in fines for selling lootboxes to minors in a new settlement

The US Federal Trade Commission is preparing to settle with the company behind the popular video game Genshin Impact over concerns that the money-making mechanics of the game were deceptive, according to people with knowledge of the matter.

Today, the FTC (US Federal Trade Commission) announced a settlement with Genshin Impact developer HoYoVerse (Cognosphere) regarding marketing loot boxes to children. According to the announcement, HoYo,

As an open world action title, Genshin Impact highlights its feature as freely explorable world, multiple playable characters, an in-depth elemental combo-based combat system and an engaging story.

In press release by the FTC, the agency announced that the makers of Genshin Impact "has agreed to pay $20 million and to block children under 16 from making in-game purchases wit

Genshin Impact maker HoYoverse has agreed to pay $20m to settle a complaint - filed by the US Department of Justice on behalf of the Federal Trade Commission - accusing it of violating children's privacy laws and deceiving users over the true cost of obtaining rare loot box prizes.