Microsoft has begun beta registration for its 2013 Xbox Live update, Major Nelson announced today.

The beta allows applicants to test out the newest Xbox 360 update prior it its public release. The update is said to improve overall performance - faster system boots -  and add the ability to conduct transactions with local currency as Microsoft Points will be removed from use late this year.

Those wanting to sign up can apply though the Xbox Beta Program tile which can currently be found on the Xbox 360 dashboard and required to sign a non-disclosure agreement. Space is limited so once the limited spots are filled the beta will close.

No word yet on when the beta is scheduled to launch or when the update will be available to the public. But use up any MS Points you've been holding on to, Microsoft wants real money.

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[Via Major Nelson]