US gamers, how do you feel about the Video Game Rating Modernization Act?

From cnbc.org:<br><br>The Video Game Rating Modernization Act is a bipartisan bill that would create a new federal agency to oversee video game regulation, assessing fines of up to $10 million for noncompliance.<br><br>The proposed legislation, which was introduced in February, targets games and game platforms that “exploit children.”<br><br>Here are the relevant bullet points from the article.<br><br>**Key points about the bill:**<br><br>• The VGRMA would create a new federal agency called the “Federal Gaming Oversight Commission.”<br><br>• The purpose of the commission is to “regulate video games that exploit children.”<br><br>**How it would regulate games:**<br><br>• Regulate games that use microtransactions, loot boxes and games that allow users to bet on professional gamers.<br><br>• To sell these games, publishers would need a license, and would also need to regularly submit reports about their business practices.<br><br>• The VGRMA proposes establishing a national registry to track kids who are barred from playing video games due to a history of expenditures above $250 each month.<br><br>• The bill also proposes requiring game developers to label their games based on their level of addiction and exploitation.<br><br>• Developers would also be required to disclose algorithms that they use to personalize the content for users, as well as data about how users engage with their games.<br><br>• The bill also touches on cybersecurity concerns, proposing the creation of laws governing how game developers are allowed to collect and use user data.<br><br>**Fines and enforcement:**<br><br>• The bill proposes requiring game publishers to license their content with the federal government for $100,000 per game for up to three years.<br><br>• Publishers would also need to pay an annual fee for each game they publish, which could be up to $1 million per year.<br><br>• Violations would be subject to fines from $1 million to $10 million per offense.<br><br>• Retailers who sell games that don’t conform to the proposed regulations could also face fines of up to $1 million.