Tuesday, June 30, 2009

Gold Farming now illegal in China

[caption id="attachment_2173" align="alignright" width="200" caption="China's Government has deemed Gold Farming Illegal"]China's Government has deemed Gold Farming Illegal[/caption]

The Chinese government has put out a ban on gold farming, now making it illegal to trade virtual currency for real money.

It's estimated that 80-85% of gold farmers are located within China, which would majorly impact the gold farming industry.  In 2008, the virtual currency in China exceeded several billion yuan last year, which grew at a rate of 20% annually.

The government claimed the ban was justified because it's there to stop gambling and other illegal online activities.  China's Ministry of Culture and Ministry of Commerce said "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 service."

It's not like it's incredibly hard now to earn gold in World of Warcraft...