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Ministry of Commerce

Virtual currency restricted in China?

June 30, 2009 - 2:23am | Law aspects | News
Virtual currency restricted in China?

The Ministry of Commerce and the Ministry of Culture released new regulations that forbid use of virtual cash for real-world trade. Virtual currency can now only be used for virtual goods and services that are provided by the issuers of the virtual currency.

According to the Ministry of Commerce, those caught using virtual money for gambling will be punished by public security authorities.
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Ministry of Commerce | Ministry of Culture | QQ coins | Tencent | virtual cash | virtual currency | Xinhua
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