Goldfarming banned in China

Date: 2009-06-30 18:54, by KevinG

In what can only be described as an astonishing move, the Chinese government has banned the trading of virtual goods for real money or services. These virtual goods include the likes of prepaid games cards or gold that is used in game in World of Warcraft.

"The virtual currency, which is converted into real money at a certain exchange rate, will only be allowed to trade in virtual goods and services provided by its issuer, not real goods and services," according to China's Ministry of Culture and Ministry of Commerce who issued a joint release on Friday. The Ministries estimate that trade in virtual currency exceeds $146 million and is growing steadily at 20% a year.

Considering that between 80% and 85% of gold farmers could be based in China, according to a 2008 survey conducted by Richard Heeks at the University of Manchester, this new law could put a lot of people out of business or on a flight to the nearest country that hasn't banned the practice.

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  • Lachlan (Jul 3rd at 2:03 AM)

    The Chinese government has "clarified" matters - this isn't a ban. They're trying to change the law so people can't spend imaginary Warcraft dollars on real-world items. I guess the idea of close to half-a-billion dollars that doesn't really exist has them a little scared.