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Massive Bank Fraud In EVE Online (Slashdot)
djconrad was one of several readers to point out the latest major scandal in EVE Online, the space MMO notable for its large, player-driven economy and the entertaining stories it often generates. A player named Ricdic, chairman of a large in-game bank, decided to embezzle roughly 200 billion ISK (the game's currency). Ricdic exchanged the ISK for about $5,000 to pay off real-life debts. ...
Read more...Chinese Government Limits Virtual Currency Trading (Gamasutra)
China's Ministry of Commerce has extended its governing reach into online realms, limiting in several ways the trade and conversion of virtual currency. According to a press release issued by the ministry, virtual currency may now only be used to purchase virtual goods and services, and may not be used to buy real-world goods. Furthermore, minors are prohibited from buying virtual currency, and ...
Read more...Chinese officials try to regulate virtual currencies (San Jose Mercury News)
China is one of the world's biggest markets for huge so-called multiplayer online games like 'World of Warcraft,' and tens of millions of young people are believed to be trading virtual goods and credits for real goods and cash.
Read more...China Limits Use of Game Players’ Virtual Currency (New York Times)
The regulations, aimed at cracking down on the use of virtual currencies, could deal a blow to the country’s fast-growing online gaming industry.
Read more...China outlaws virtual money for trading (ZDNet Asia)
Chinese government decrees virtual currency not legal tender in transactions involving real-world products and services, but allows it to be purchased by real money.
Read more...High Probability ETF Trading Report: Oversold Commodity ETFs: SLV, GLD, DBB (TradingMarkets.com via Yahoo! Finance)
Do you want to trade the best edges? Those edges that have had the highest historical rates of success? Then learn how to apply high probability ETF trading strategies to take advantage of opportunities in these ETFs on our oversold list.
Read more...China bans online 'gold farming' (CNET)
The practice of trading virtual goods for real currency generates big money for Chinese gold-farmers. A government ban won't dissuade the practice from continuing.
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