Legal Niches

Virtual Currency Tax: Who Will Declare
Saw this a few days ago and just now figured out what was bothering me: Individuals will be taxed 3% on income earned from virtual currency trades, as specified by property transfer regulations, reports Beijing Evening News quoting a Beijing Local Taxation Bureau employee...

MOC Regs to Focus on Virtual Currency Issue
Interesting conjunction of financial, social and IT regulations here: The Ministry of Culture (MOC) plans to release new regulations banning online games that place excess importance on virtual currency exchanges and leveling, reports Sina quoting MOC vice minister Tuo Zuhai...

Criminal Law in Virtual Worlds
As noted on Volokh Conspiracy, Orin Kerr has posted a very interesting article on SSRN about regulating virtual worlds. He is very much in favor of a hands-off approach: When does conduct by an online player in a virtual world...

Virtual Property: Not
Wired has an article on the trade in virtual world items - armor, swords, ninja monkeys, etc. - that takes place using real-world currency. (It tracks the rise and fall of former child actor Brock Pierce and his startup, Internet Gaming Entertainment...

AML customer identification for currency exchange rules to be modified
Austrac has issued draft AML/CTF Rules which amend paragraph 14.4 of Chapter 14 by raising the threshold from $500 to $1,000 regarding the designated service of exchanging one currency for another in the course of carrying on a currency exchange...

Virtual Worker Job Board For Law Firms
Every week, we receive dozens of resumes from individuals who want to be virtual law clerks, virtual lawyers, virtual paralegals and general virtual staff. Clearly, there are a tremendous number of incredibly talented people out there who are offering their...