>Under the proposed order, which must be approved by a federal judge before it can go into effect, Cognosphere Pte. Ltd and Cognosphere LLC will be required to a pay a $20 million monetary penalty and make changes to address the allegations outlined in the complaint. The companies will be:
>Prohibited from allowing children under 16 to purchase loot boxes in their video games without a parent’s affirmative express consent; >Prohibited from selling loot boxes using virtual currency without providing an option for consumers to purchase them directly with real money; >Prohibited from misrepresenting loot box odds, prices and features; >Required to disclose loot box odds and exchange rates for multi-tiered virtual currency; >Required to delete any personal information previously collected from children under 13 unless they obtain parental consent to retain such data; and >Required to comply with COPPA including its notice and consent requirements.`