Many Xbox gamers have found themselves frustrated, having Microsoft Points available but not enough to buy anything. Gamers may be happy to hear that Microsoft have thrown in the towel for Microsoft Points and all current Microsoft Points will be swapped for digital currency. Those who still have an outstanding code or Microsoft points to redeem can still redeem said points, however, these points will be displayed as real currency on the Xbox account.
You can find more information on the official Xbox site FAQ.