Cognosphere, the maker of anime-style fantasy video game "Genshin Impact," has agreed to pay $20 million and block children under age 16 from making in-game purchases without parental consent to settle U.

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

The company will pay, and make changes to its disclosures

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.

Genshin Impact publisher Hoyoverse has agreed to a settlement with the United States Federal Trade Commission where it agrees to pay a $20 million fine, and be banned from sellling lootboxes to teenagers under the age of 16.

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

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.

Cognosphere, the maker of anime-style fantasy video game "Genshin Impact," has agreed to pay $20 million and block children under age 16 from making in-game purchases without parental consent to settle U.

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.

Singapore-based Cognosphere was accused of unfairly marketing loot boxes to children. Read more at straitstimes.com.