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Posted by: Matt Liebl

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The change from Microsoft Points to local currency on Xbox will result in a new Xbox LIVE Rewards program which Microsoft promises will be "even better." For those unfamiliar, Xbox LIVE Rewards is a loyalty program that rewards members for renewing their Xbox LIVE Gold subscription, playing games, engaging with Xbox LIVE features, and making purchases from the Marketplace.

In a message on the Xbox Rewards site, Microsoft explained: "With all these changes, it’s become necessary for us to evolve the way we reward you."

"Starting August 1, 2013, you will not be able to earn Microsoft Points through Xbox Live Rewards any longer. Not to worry, though! Since this currency change is impacting the structure of the program, we’re taking the opportunity to make Xbox Live Rewards even better. You’ll continue to get rewarded for doing the things you love on Xbox Live – just not with Microsoft Points," the notice reads.

"On August 7, 2013 we’ll deposit ALL your Pending Rewards Points into your account, even if you have less than 100. And if you still have Points in your Xbox account when Microsoft Points are retired, they’ll be transitioned into your country’s local currency."

Apparently the "full scoop" will be detailed on September 1, 2013, so until then we just have this vague heads-up.

Tags: Xbox LIVE Rewards