China Bans Gold Farming

[Emabulator]

InformationWeek is reporting (http://www.informationweek.com/news/internet/ebusiness/showArticle.jhtml?articleID=218101859) that trading virtual goods for real money has been banned in China.

"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," the Ministries said.

The Chinese government estimates that trade in virtual currency exceeded several billion yuan last year, a figure that it claims has been growing at a rate of 20% annually. One billion yuan is currently equal to about $146 million.

The ruling is likely to affect many of the more than 300 million Internet users in China, as well as those in other countries involved in virtual currency trading. In the context of online role playing games like World of Warcraft, virtual currency trading is often called gold farming.

The most popular form of virtual currency in China is called "QQ coins," a form of virtual credit issued by Tencent.com.
[via Slashdot (http://games.slashdot.org/article.pl?sid=09/06/29/1839205)]

[Dag-Sabot]

Might be a bit hard to enforce. But then again, im always ready to be surprised.

[randir14]

How exactly do they expect to enforce this? Gold farmers will find some loophole.

[yutt]

I don't understand why the Chinese government would ban this when it was clearly economically beneficial to China.

[prence]

They pretty much censor everything in/out on the Internetz. I'm sure it won't be too hard.

[lockwoodx]

Most of them operate out of canada anyways. When WoW was released I worked at EB games. We had tons of chinese customers come in with canadain IDs asking to buy every copy in the store.

[TeeCakes]

Sasha Cohen needs to create a Chinese politician spoof character who thinks he can and should micromanage every aspect of his citizens' lives.

And the rest of the world would repeatedly quote his silly antics and slogans, so much so that eventually somebody in power over there might wise the fuck up about being so restrictive all the time. Worked for Kazakhstan, at least.

[Vicious]

China is not America. They won't have a problem enforcing this if they want to.

[Major Dan]

Good luck with that!

PS. If they can do it, then that is scary shit right there.

[Suicidal ShiZuru]

This is a good thing, gold farmers of any kind need to die in a fire.

[Silverbaine]

lol no way? Lets see how long this works

[dirtbag]

This is a good thing, gold farmers of any kind need to die in a fire.I believe that actually be the penalty under Chinese law.

[Stooby]

If you read the article, it isn't targeted at gold farmers and probably won't affect them at all. It was meant to stop actual virtual currencies, such as the money you bet on gambling websites.

[lockwoodx]

If you read the article, it isn't targeted at gold farmers and probably won't affect them at all. It was meant to stop actual virtual currencies, such as the money you bet on gambling websites.

sucks for the farmers then. KEKEKEKEKEKEKEKE

[Sasori the Medic]

If you read the article, it isn't targeted at gold farmers and probably won't affect them at all. It was meant to stop actual virtual currencies, such as the money you bet on gambling websites.

I read the article and I don't see how you can jump to those conclusions. It specifically states that it prohibits the exchange of virtual currency for real-world goods or services, except in cases where the issuer offers it. Whether you pay money for currency at a gambling website or money for gold in WoW, the same principle applies.

[the Jack]

QQ coins!

I see what they did there.

[HarverdGrad]

China will do what they want, and nobody can stop them.. so STFU, and enjoy your Tuesday (while you still can) :D