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MMO China

Dear Readers, Sorry for the inconfinience without doing too much of grammar check, because i dont have enough time to do that. my blog's goal is to transmit some cross culture of mmog between china and other country. and i believe google is geting better

Author: NieYoubing

The purpose of new rule to regulate virtual currency in China

Posted by NieYoubing Wednesday July 1 2009 at 10:39AM
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In practice for many years after the operation, the relevant department finally admitted that the legalization of the status of virtual currency. As it has been unable to continue to avoid, some problems can not be ignored.

The afternoon of June 26, the Ministry of Culture, Ministry of Commerce jointly issued a "virtual online games on the management of currency transactions," the notice that the same enterprise can not operate with virtual currency transactions, and payment of the purchase of virtual currency in kind, to prevent online game virtual currencies against the reality of the potential financial impact of the order.

It issued the "notice" the background is that the network of virtual currency in the promotion of industrial development, but also brought new economic and social problems, mainly reflected in: the lack of protection of the rights and interests of users, the lack of monitoring of market behavior, virtual currency In disputes arising from the use of constantly. The "Notice" also defines the network definition of virtual currency, game props are not listed.

Carefully read the "notice", the virtual currency  that the main purpose of the new regulations is to prevent the yuan and the two-way exchange of virtual currency.

In accordance with the idealized, virtual currency renminbi only virtual money → → → value-added services, one-way flow of virtual currency, that is, in the normal channels used as virtual currency renminbi, the virtual currency can then be exchanged into RMB. And practice, the circulation in the real situation has changed.

If not believe, then go to Taobao, you can see all kinds of virtual currency and RMB convertibility. It is understood that this area has become a big business.

It can be said that to some extent, the current virtual money has created a closed loop financial transactions, the realization of the virtual currencies and the renminbi exchange two-way, to achieve a virtual currency from RMB → → → value-added services, virtual money → bi-directional flow of the RMB.

With the growing phenomenon of virtual currency is bound to impact on the existing financial order, which led to greater financial problems. The problem is most afraid of relevant issues. So the final analysis, this "notice" the most striking aspect is its Article VIII:

(Viii) online game virtual currency is limited to the use of exchange issued by enterprises to provide virtual services can not be used to pay for the purchase of physical exchange of products or any other enterprise products and services.

Although the "notice" a total of 26, but the other 25 are foil.

For example, Article II, "not at the same time the same enterprise network operators and virtual currency transactions," the brothers who were listed, the registration of more than two companies to consider going to sleep at night easier.

For example, Article XIII, "online game operators do not support online game virtual currency transactions, technical measures should be taken to prohibit the online game virtual currency between the user's account the transfer of functions." This one, in my IQ is difficult to understand.

There are also somewhat useful, such as "online game operator in the user enterprise shall be in cash or directly into the premise of a virtual currency, to take the draw, betting, and other occasional random allocation props games or virtual currency." Why do I say that somewhat use it? Because they can not "open box", then we should reduce the number of shiyuzhu's income, but his intelligence, quick response can be found.

Turns out, the user did not use the end how the virtual currency back, shiyuzhu can not open the box, props be regarded as a virtual currency, they are in fact not important, it is important that the impact of virtual money if the financial system now, However, the relevant officials that could eat away a large bear, which can not be avoided, but also a significant effort must be to take seriously.

MMORPG.com writes:
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