Microsoft confirmed this morning that it will be shifting away from its Microsoft Points virtual currency for purchasing games and other items on Xbox Live. The company made the announcement as it released new details about the upcoming Xbox One console.

“We’re moving from Microsoft Points to real money,” said Marc Whitten, the Xbox Live vice president, during the company’s presentation at the E3 video-game convention in Los Angeles. “Everything is priced in your local currency.”

The move addressing a longstanding complaint among Xbox Live users about the conversion from currency to Microsoft Points, which can sometimes make the real cost of a game or virtual item less clear. The use of real currency in local markets is more in line with the approach taken on app stores for tablets and smartphone.

In addition, Whitten said Xbox Live members will no longer be limited to 100 friends, as they are now. The approach is more in line with other social networks. The company is also rolling out a new program called Xbox Live Gold Sharing that will let anyone in a house use the Gold benefits of another member of the household even if that person isn’t logged in.

Microsoft has been focusing heavily on games at the E3 presentation, which is available live here.