Genshin Impact’s developer to pay $20 million fine to settle FTC charges

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. According to the FTC, the company “actively marketed” its loot boxes to children and misled players about their odds of winning prizes.

Cognosphere allegedly also “deceived children and other users about the real costs of in-game transactions,” by requiring them to buy virtual money that involved multiple currency…