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[NEWS] China bans gold farming
Posted: Tue Jun 30, 2009 12:54 am
by Wu
By Thomas Claburn
InformationWeek
juni 29, 2009 02:20 PM
In addition to its ongoing crackdown on Internet porn, the Chinese government has declared that virtual currency cannot be traded for real goods or services.
Virtual currency, as defined by Chinese authorities, includes "prepaid cards of cyber-games," according to a joint release issued by China's Ministry of Culture and Ministry of Commerce on Friday.
"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.
It's estimated that 80 to 85 percent of gold farmers reside in China.
Rest of the story and source can be found here:
http://www.informationweek.com/news/int ... =218101859So yeah. It won't fully halt goldselling but it might make a noticeable change in the MMO world!
Re: [NEWS] China bans gold farming
Posted: Tue Jun 30, 2009 12:57 am
by Squirt
A chance for Joymax?!
Re: [NEWS] China bans gold farming
Posted: Tue Jun 30, 2009 1:35 am
by Vinyl
Squirt wrote:A chance for Joymax?!
think they're run by bots
Re: [NEWS] China bans gold farming
Posted: Tue Jun 30, 2009 1:42 am
by destructionmama
Vinyl wrote:Squirt wrote:A chance for Joymax?!
think they're run by bots
still there will be less goldbots in the servers, but unless most of the gold selling companies for sro are not from China?
anyways there will always be another way around things...
Re: [NEWS] China bans gold farming
Posted: Tue Jun 30, 2009 2:31 am
by Wu
Vinyl wrote:Squirt wrote:A chance for Joymax?!
think they're run by bots
Using goldbots to farm for a company will be illegal aswell, since that would still involve ingame currency being traded for real money.
Re: [NEWS] China bans gold farming
Posted: Tue Jun 30, 2009 2:48 am
by Vinyl
destructionmama wrote:Vinyl wrote:Squirt wrote:A chance for Joymax?!
think they're run by bots
still there will be less goldbots in the servers, but unless most of the gold selling companies for sro are not from China?
anyways there will always be another way around things...
china are puppets to the real gold farmers.
JAPAN.
Re: [NEWS] China bans gold farming
Posted: Tue Jun 30, 2009 8:28 am
by bakafish
Wait, how are they gonna sell item mall cash then? Wouldn't this be the end of F2P games in China?
Re: [NEWS] China bans gold farming
Posted: Tue Jun 30, 2009 11:29 am
by Skullbasher62
they revoked this and have now decided to put a 20% tax on it.
Re: [NEWS] China bans gold farming
Posted: Wed Jul 01, 2009 6:45 pm
by woutR
I don't really understand, people also can't play pay2play games in China now?
If you look at their definition, which includes the following: "prepaid cards of cyber-games" it looks like you also can't buy gamecards and the likes for wow etc.
But I am curious what the full definition of 'virtual currency' entails. Stuff like this with grey areas of the law and rules interest me. (I'm not saying this law is vague or has grey areas, just saying I think it's interesting)
Re: [NEWS] China bans gold farming
Posted: Wed Jul 01, 2009 6:47 pm
by Ryoko
1. They will still do it anyway. Laws or not.
2. If they stopped selling virtual goods for cash altogether, china would go broke.
Re: [NEWS] China bans gold farming
Posted: Wed Jul 01, 2009 11:48 pm
by woutR
Ryoko wrote:1. They will still do it anyway. Laws or not.
2. If they stopped selling virtual goods for cash altogether, china would go broke.
One of the biggest economies in the world going broke over a couple hundred million bucks? Not even Holland would go even remotely broke over such a small amount.
Re: [NEWS] China bans gold farming
Posted: Mon Jul 13, 2009 11:14 pm
by Musaboru
From what I heard on one news broadcast, China has a problem with the local authorities enforcing the law. There is some corruption and bribery going on, so the police do not always enforce some laws. So my feeling is that goldfarming may still go on.
Re: [NEWS] China bans gold farming
Posted: Mon Jul 13, 2009 11:17 pm
by KylieMinogue
Musaboru wrote:From what I heard on one news broadcast, China has a problem with the local authorities enforcing the law. There is some corruption and bribery going on, so the police do not always enforce some laws. So my feeling is that goldfarming may still go on.
Yup they bribe them with SOM or SUN + 1000000000000