Industry Insights: Too Soon to Sound the Death Knell for Gold Farming?

On Friday, June 26, 2009, the Chinese Ministry of Commerce and Ministry of Culture released a joint circular prohibiting the use of virtual currency to trade in real goods and services. The stated aim of the government's policy is to reduce the disruption that virtual currency trading may have on China's real-world currency markets and to curb the use of virtual currency for such illicit activities as money laundering and gambling. The Chinese government has defined "virtual currency" as any online currency used to recharge, prepay, or purchase points for online game accounts. This would, presumably, include prepaid game cards and in-game currencies and game points that can be purchased from the game publisher for real money.

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