China Bans Gold Selling

MMOs such as World of Warcraft will be affected by a new ruling from the chinese Government that will ban the trading of virtual currency for real goods and services.

Gamers in the communist state will still be able to buy and sell items using virtual cash online, but will not now be able to sell this currency for ‘real’ money – a practice often referred to as ‘Gold Farming’.

The practice is big business, generating between $200 million and $1 billion a year worldwide, according to a survey by the University of Manchester. The report also states that 80-85 per cent of gold farmers are based in China.

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