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China limited Virtual Currency

Hong Xiaowan [PersonRank 10]

Wednesday, March 7, 2007
17 years ago2,946 views

China now limited virtual currency, and warned that the virtual currency will break finance in the real world.

This policy is, using the virtual currency to buy real good is forbidden now.

According to this policy, the virtual currency can not change to real currency. If can change to real currency, the virtual currency is equal to can buy real goods. Also the virtual goods can not sell at real currency, if can, someone can use virtual currency to buy virtual goods, then sell at real currency. That equal to can change virtual currency to real currency.

This policy in fact banned virtual currency. It is not only limited. I think, many companies did not understand this policy clearly, or think they can use some bugs of this policy, but it is a trap, the company who will break this law will be closed at once, maybe will be in prison at once. Or will lost very very big money.

But this policy not related with Paypal and Alipay, Paypal and Alipay use the real currency.

Hong Xiaowan [PersonRank 10]

17 years ago #

So 2nd life if want to join china market, must change their policy for virtual currency or try a special passport from china goverment.

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