The Federal Trade Commission announced on Friday that Genshin Impact developer Cognosphere has agreed to a $20 million settlement and several restrictions on how it sells its loot boxes and manages children’s personal data.

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

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.

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.

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.

Cognosphere, the publisher of anime-style fantasy video game "Genshin Impact," has agreed to pay $20 million to settle U.S. Federal Trade Commission allegations that the company violated a children's privacy law.

The FTC's complaint alleges that Singapore-based Cognosphere deceived children and other users about the real costs of in-game transactions and the odds of obtaining rare prizes.

The Federal Trade Commission (FTC) has fined Cognosphere, the publisher behind popular games like Genshin Impact, $20 million. The penalty comes as a result of allegations that the company misled users,

The maker of the video game Genshin Impact has agreed to pay $20 million and to block children under 16 from making in-game purchases without parental consent,” a press relea