Keen on curbing the growing industry of Gold Farming in online games like the famous World of Warcraft, China has now set up a leaner definition of the terms "gold farming" as well as officially banning its practice, and limiting the use of virtual currency only for virtual goods and services.
The Ministry of Commerce for China reports that the use of virtual money for gambling will now be punished by the public security authorities, and that minors are now prohibited from buying virtual money.
Expert on the online industry of the country, Cui Ran, noted that the regulation's objective is to "nip illegal online activities in the bud." InformationWeek observes that this new policy will be affecting "more than 300 million Internet users in China." It is reported that there were 298 million people online at the end of last year.
Whether or not this move will effectively put a stop to gold farming in China remains to be seen, but what is imminent is the concern of certain sectors of society that this will ultimately put "hundreds of millions of dollars in economic activity at risk."
The ban on Gold Farming comes in the wake of China's crackdown on Internet pornography as well.
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