Blog: China Bans Gold Farming
Well shit there goes my income.
A decree from the Chinese Ministry of Culture and Ministry of Commerce has levied a ban on trade of virtual currency for real-world items.
“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,” said the Ministries.
This means that virtual currency can no longer be used by game operators as the incentive to attract new players, which eliminates the gambling-like options such as coupons and treasure boxes.
The Chinese gold trade has been growing over the past few years and is estimated to be worth several hundred of millions of dollars annually. The actions of the Ministries will likely impact the 300 million internet users in China directly, with countless overseas to be affected indirectly [shame on you].
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