For many Xbox 360 owners who fired up their trusty consoles yesterday, there was an update waiting for them. Microsoft, to the applause of many, has done away with Microsoft Points and has now listed Marketplace items in local currency.
In what is believed to be just one of the many Xbox Live changes leading up to the launch of Xbox One, this update is being rolled out across all Xbox Live-enabled regions. However, not all regions were updated yesterday. Microsoft told Polygon "Today we started rolling out the official release of the 2013 Xbox Live Update. To ensure a stable release, this will be a gradual deployment across members and regions. Don't panic if you don’t see an immediate update, just keep checking back in."
For those gamers with leftover points, Microsoft will convert them to cash. The next time a user tries to purchase a game, the remaining points will be converted over into local currency. However, this converted currency must be spent by June 1, 2015 or else funds are forfeited.
For more info on this transition of currency, Microsoft has created this FAQ.