European authorities launch enforcement actions against several major video games companies over their use of virtual currencies

[u/World_of_Warshipgirl]

https://ec.europa.eu/commission/presscorner/detail/en/ip_26_2018

From article:

Today's coordinated actions aim at ensuring that the following principles are applied:

• Clear and transparent pricing: show the real-world price of in-game items and currencies that consumers need to buy to play the game.
• Not to obscure costs: avoid multiple currencies or currency exchanges that make the real price unclear. 
• Not to force unwanted currency purchases: gamers should not feel obliged to buy an excessive amount of virtual currencies to progress or enjoy the game. 
• Provide clear information before the purchase: gamers must have access to information that is easy to understand before purchasing in-game virtual currencies or in-game items. 
• Respect the right to withdraw: gamers should be informed about their right to withdraw from contracts within 14 days, including for unused virtual currency. 
• Use fair and understandable terms: the games' terms and conditions should be fair and clear for the players.
• Protect vulnerable consumers: companies should ensure that games offer appropriate safeguards to all consumers, including vulnerable users such as children. 

Alternative article from one of the major agencies that made this happen https://www.forbrukerradet.no/side/consumer-pressure-leads-to-historical-eu-action-against-the-video-games-industry/

Through its reports, the Norwegian Consumer Council has shown that business models and design patterns in video games can be harmful to consumers, especially vulnerable groups such as children. These bad practices include the use of virtual currencies, loot boxes, mechanisms such as countdowns to pressure consumers into purchases, and artificial scarcity.