Legal Niches

Report: China Bans Gold Farming

By gamepolitics

If you are planning on buying gold for your World of Warcraft character, act quickly. The price may be going up soon because of an official crackdown which should affect availability in a negative way.

Information Week reports that on Friday the Chinese government enacted new virtual currency regulations which, among other provisions, make gold farming illegal: 

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 trading of virtual currency for real cash employs hundreds of thousands of people worldwide and generates between $200 million and $1 billion annually, according to a 2008 survey conducted by Richard Heeks at the University of Manchester.

He estimates that between 80% and 85% of gold farmers are based in China.

Full post as published by GamePolitics.com on June 29, 2009 (boomark / email).