 | More on China and virtual currencyJuly 1st, 2009 |
The PlaynoEvil blog has the best summary i have seen of the key issues — and they still have wideranging implications!
- If the service is shut off, customers are entitled to a refund of unused currency.
- “virtual currency should be exchanged only for virtual goods and services provided by the issuer of the currency” (this would cause problems for a lot of the third party currency folks here in the US and elsewhere)
- Companies already involved in virtual currency trading are required to register with the local cultural affairs bureau within three months.
- Minors may not buy virtual money. THIS IS POTENTIALLY HUGE. If enforced, this would essentially shut down most MMOs that use the Free-to-Play business model.
You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.
