The government wants to protect Robux from hackers

The Consumer Financial Protection Bureau proposed a new measure on Friday that could protect your Robux from scammers and hackers.

The proposed rule would interpret terms in the Electronic Funds Transfer Act, or EFTA, which has traditionally been used to protect consumers from unauthorized debit transactions, to include certain virtual currencies offered by gaming and cryptocurrency companies.

“Players — or in some cases their parents and guardians — have reported issues such as problems converting dollars to in-game currency, unauthorized transactions, account hacks and takeovers, theft, fraud, and loss of assets,” the CFPB post announcing About the proposal. “They also described receiving limited or no assistance from the gaming companies and banks or digital wallets involved. Refunds are often denied, or people find their gaming accounts suspended by the video game company after a player tries to get their money back from their financial institution, Or people are left stuck in death loops with AI-powered customer service representatives while they just try to get straight answers.”

Friday’s proposal aims to resolve these issues. The EFTA protects consumers who transfer money electronically, limits their liability for errors, and provides them with ways to correct illicit transactions. Once a consumer is notified, covered financial institutions are required to investigate unauthorized transactions and fix errors immediately. In its proposed interpretation, the CFPB says consumers have the same rights when using certain virtual currencies.

However, the EFTA will likely only apply to games that allow players to exchange currencies between themselves using accounts similar to “consumer asset accounts.” For example, popular children’s gaming platform Roblox allows content creators to earn Robux by selling cosmetics or building their own in-game worlds and experiences. Through Roblox’s DevEx program, Robux can be converted into US dollars.

Not all games that feature in-game currency will necessarily be subject to this rule. For example, Fortnite players can spend cash for V-Bucks in order to purchase cosmetic items and Battle Passes, but the currency cannot be exchanged between players and other merchants.

Last year, the CFPB warned gaming companies, – Issuing a detailed report on risks Participate in the purchase and transfer of virtual currencies. In it, the agency said that banks and virtual currencies on gaming and cryptocurrency platforms increasingly resemble traditional banking infrastructure, with little protection for users if funds are lost or stolen.

“Americans of all ages are converting billions of dollars into currencies used in virtual reality and gaming platforms,” CFPB Director Rohit Chopra said in a statement about these transactions last year. “As more banking and payment activities occur in video games and virtual worlds, the CFPB is looking for ways to protect consumers from scams and fraud.”

The video game industry has remained largely unregulated, despite facing numerous lawsuits and government investigations over the past few years. Just last month, the F.T.C I reached a settlement with Epic Gamesthe developer of Fortnite, is asking the company to provide more than $245 million in refunds to users who were allegedly tricked into purchasing the game’s virtual currency.

The CFPB’s proposal likely won’t take effect anytime soon. In a press release issued on Friday, the agency said it would seek feedback, specifically from players, about what protection they need. The deadline for submitting comments is March 31, 2025.