Technology
Your kids may be treating video games like banks and playing with real money. The government has questions
A federal agency announced it’s monitoring video games that include in-app purchases, digital currencies and external marketplaces often used by children.
Games that include these features can effectively operate as banks of sorts but aren’t subject to the same types of regulations or protections, according to a Consumer Financial Protection Bureau report released last week. The agency also questioned whether children or parents were aware of the vast amount of data gaming companies collect.
“For several years, the most popular video games have included immersive virtual worlds that offer the storage and exchange of valuable assets,” CFPB wrote. “Gaming companies have created digital marketplaces that facilitate the buying, selling, and trading of these assets with limited consumer protections, which has led to potentially harmful practices for players including financial losses due to theft and scams.”
For years, video games like the mega-hit “Fortnite” have allowed users to make microtransactions — small, optional fees players can pay to obtain items or other features. In many cases, users must purchase in-game currencies bought with real dollars — similar to tokens purchased at brick-and-mortar spots like Dave & Buster’s or Chuck E. Cheese.
CFPD reported that video games like Fortnite could be children’s introduction to banking. (Neilson Barnard/Getty Images)
GOATS, GOOGLE AND GAMES: THE FUTURE IMPACT OF A TECH GIANT’S PUSH TO TRAIN AI TO PLAY VIDEO GAMES
CFPB warned that digital currencies, purchased items and other assets can amount to a “considerable value” in terms of real money. But those closed markets aren’t subject to regulations meant to protect asset holders.
“Banking and payment services that facilitate the storage and exchange of valuable assets generally provide consumer protections, including recourse after unauthorized transactions,” CFPB wrote in its report. “Yet operators of gaming and virtual worlds typically emphasize a ‘buyer beware’ approach.”
The agency was particularly worried about children, who may be using these markets without their parents knowing.
“For many young people today, gaming may be their introduction to financial activity,” CFPB wrote. “For example, gaming provides young people the opportunity to learn about earning currency, managing assets, and making purchases.”
A CFPB report warned that video games with features like in-app purchases and digital currencies behave like banks but aren’t subject to the same regulations. (Jakub Porzycki/NurPhoto via Getty Images)
NOW THAT ARTIFICIAL INTELLIGENCE CAN CLONE VOICES, VIDEO GAME ACTORS MUST WEIGH THEIR OPTIONS
“Gaming companies may view young players as an opportunity to create lifelong consumers early,” the report continued.
Because players can accumulate assets in these video games worth considerable sums of real money, gamers could face a significant financial loss if their accounts are hacked or if they fall prey to scammers.
Those risks have increased as the value of gaming assets has risen, according to CFPB. But players might have limited recourse since traditional banking and payment system protections don’t apply.
“In complaints to the [Federal Trade Commission] and CFPB, several players reported hacking attempts, account theft, scams, unauthorized transactions, and losing access to game currencies and virtual items, but they received limited recourse from gaming companies,” the bureau wrote. Gaming companies often put “the burden on individual players to avoid these scams and phishing attempts.”
CFPB warned that many video games collect a massive amount of data, a fact parents of young players may be unaware of. (Frazer Harrison/Getty Images)
Meanwhile, publishers can also collect significant information about their users, including location data, social media data and behavioral interactions, “such as how a player responds to personalized incentives,” according to the CFPB report.
“There is risk that gamers may be harmed when their data is sold, bought, and traded between companies, including for purposes outside of game play,” the report continued. “Additionally, the vast accumulation of data collected from consumers by gaming companies raises questions as to whether privacy rules are being adhered to and whether consumers, especially young ones and their parents, are fully aware of how their data is being collected and used across the industry.”
Ultimately, CFPB didn’t indicate it was taking action against the video game industry, instead noting that it’s “monitoring” the situation.
When Oregon resident Isabelle Reksopuro heard Google was gobbling up public land to fuel its data centers in her home state, she didn’t initially know what to believe. “There’s a lot of misinformation about data centers,” she said. “Google has denied taking that land.”
Technically, she explains, The Dalles, a city near the Washington state border, sought to reclaim that land, “and Google is just a big, unnamed power user.” The city had in fact asked for ownership of a 150-acre portion of Mount Hood National Forest, claiming it needs access to Mount Hood’s watershed to meet municipal needs as its population — 16,010 as of the 2020 census — grows. But critics, including environmentalists, say the city is trying to secure more water for Google, which has a sprawling data center campus in The Dalles that already consumes about one-third of the city’s water supply.
This controversy made Reksopuro curious about the backlash to data centers being built in other communities. So Reksopuro, a student at the University of Washington who studies the connections between tech and public policy, decided to map it out. Using information collected by Epoch AI and data scraped from legislation on data centers, she built an interactive map tracking AI policy around the world. She designed it to be simple enough for anyone to use. “I wanted it to be something that my younger sisters could play through and explore to understand what are the data centers in the area and what’s actually being done about it,” Reksopuro said. She hoped to shift their opinions that way, “instead of like, through TikTok.”
Four times a day, the map searches for new sources and checks them against the existing database Reksopuro built out. “Once it does that, it will write a new summary, add it to the news feed, and populate it on the sidebar,” she said. “I wanted it to be self-updating, since I’m also a student.”
Reksopuro isn’t against data centers, but she thinks tech giants benefit from a lack of transparency around data center policies. “Right now, it’s this really opaque thing — and all of a sudden, there’s a facility,” she said. “I think that if people knew about data centers beforehand, it would give them leverage. They would be able to negotiate: ask for job training programs, tax revenue, environmental monitoring, things to improve their community.”
UCF commencement speaker Gloria Caulfield (University of Central Florida via Storyful)
NEWYou can now listen to Fox News articles!
Welcome to Fox News’ Artificial Intelligence newsletter with the latest AI technology advancements.
IN TODAY’S NEWSLETTER:
– UCF graduates clobber commencement speaker with boos after she says AI is the ‘next Industrial Revolution’
– OPINION: DIRECTOR KASH PATEL: We brought the FBI out of the past and into the AI age
– OpenAI backs creation of global AI governance body led by the U.S. that would include China as a member
TOUGH CROWD: During a recent commencement ceremony at the University of Central Florida, a speaker was met with loud boos from the graduating class after declaring that artificial intelligence represents the next industrial revolution. Fox News Digital reporting captures this tense cultural moment, illustrating the mixed public sentiment and skepticism surrounding AI’s growing footprint in daily life.
A statue on the campus of the University of Central Florida in Orlando, Florida. (iStock)
BADGE MEETS BYTE: Reflecting on the modernization of national security in a Fox News op-ed, FBI Director Kash Patel explores how the bureau must adapt its strategies to address modern threats and advance beyond the artificial intelligence age.
TECH DIPLOMACY: OpenAI is throwing its support behind the establishment of a new global artificial intelligence governance organization that would be led by the United States while notably including China as a member. Fox News Digital reporting examines the geopolitical dynamics and regulatory implications of this proposed framework as global powers race to set the standards for AI development.
EQUITY ELEVATION: The massive wave of wealth generated by the explosive growth of ChatGPT and the broader AI industry is driving a sudden surge in the San Francisco Bay Area’s luxury real estate market. Fox News Digital reporting breaks down how the influx of new tech capital is reshaping local housing dynamics and fueling a high-end property frenzy.
FBI Director Kash Patel listened as Acting Attorney General Todd Blanche spoke during a press conference at the Department of Justice on April 28, 2026, in Washington, D.C. (Tasos Katopodis/Getty Images)
STRATEGY RESET: Tech giant Cisco is planning to eliminate thousands of jobs as the company shifts its primary focus to accelerate its artificial intelligence initiatives, a move that comes despite the company beating earnings expectations. Fox News Digital reporting details the corporate restructuring and broader economic trends pushing legacy tech firms to aggressively pivot toward AI.
ROAD HAZARD: Waymo is issuing a sweeping recall of its autonomous vehicle fleet following a concerning incident that highlighted significant safety issues with the self-driving technology. Fox News Digital reporting outlines the specifics of the recall, the nature of the safety flaw, and what this setback means for the future of fully autonomous transportation on public roads.
BOTS IN THE BAY: A newly developed, artificial intelligence-powered robot has been engineered to seamlessly change and balance vehicle tires without human intervention. Fox News Digital reporting showcases this latest innovation, exploring how automation and AI mechanics could soon revolutionize the automotive service and repair industry.
OpenAI CEO Sam Altman speaks during the 2026 Infrastructure Summit in Washington, D.C., on March 11, 2026. (Kylie Cooper/Reuters)
FOLLOW FOX NEWS ON SOCIAL MEDIA
YouTube
SIGN UP FOR OUR OTHER NEWSLETTERS
Fox News First
Fox News Opinion
Fox News Lifestyle
Fox News Health
DOWNLOAD OUR APPS
Fox News
FOX Business
Fox Weather
Fox Sports
Tubi
WATCH FOX NEWS ONLINE
Fox News Go
STREAM FOX NATION
Fox Nation
Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future with Fox News here.
Microsoft Edge is adding a new feature that will allow its Copilot AI chatbot to gather information from all of your open tabs. When you start a conversation with Copilot, you can ask the chatbot questions about what’s in your tabs, compare the products you’re looking at, summarize your open articles, and more.
In its announcement, Microsoft says you can “select which experiences you want or leave off the ones you don’t.” The company is retiring Copilot Mode as well, which could similarly draw information from your tabs but offered some agentic features, like the ability to book a reservation on your behalf. Microsoft has since folded these agentic capabilities into its “Browse with Copilot” tool.
Several other AI features are coming to Edge, including an AI-powered “Study and Learn” mode that can turn the article you’re looking at into a study session or interactive quiz. There’s a new tool that turns your tabs into AI-powered podcasts as well, similar to what you’d find on NotebookLM, and an AI writing assistant that will pop up when you start entering text on a webpage.
You can also give Copilot permission to access your browsing history to provide more “relevant, high-quality answers,” according to Microsoft. Copilot in Edge on desktop and mobile will come with “long-term memory” as well, which can tailor its responses based on your previous conversations. And, when you open up a new tab, you’ll see a redesigned page that combines chat, search, and web navigation, along with the Journeys feature, which uses AI to organize your browsing history into categories that you can revisit.
Meanwhile, an update to Edge’s mobile app will allow you to share your screen with Copilot and talk through the questions about what you’re seeing. Microsoft says you’ll see “clear visual cues” when Copilot is active, “so you know when it’s taking an action, helping, listening, or viewing.”
-
Wisconsin4 minutes agoWisconsin Olympian hired at Ariens Nordic Center in Brillion
-
West Virginia10 minutes agoGovernor’s Highway Safety Program hosts annual luncheon recognizing law enforcement – WV MetroNews
-
Wyoming16 minutes agoCheyenne City Council to consider a pause on new data centers
-
Crypto22 minutes agoBitcoin, Cerebras IPO mania, and the SpaceX speculation angle traders are watching | investingLive
-
Finance28 minutes agoTexas restaurants feel financial strain as costs continue to rise, report shows
-
Fitness34 minutes agoStrengthen your lower abs with this unusual but beginner-friendly core exercise
-
Movie Reviews46 minutes ago‘Parallel Tales’ Review: Isabelle Huppert Is a French Novelist Spying on the Apartment Across the Street in Asghar Farhadi’s Weirdly Muddled Voyeuristic Head Game
-
World58 minutes agoMiley Cyrus, Jisoo, Sabrina Carpenter, Al Pacino and More Photos from the Dior Cruise Show in Los Angeles