China Regulates Fictional Currencies

Explained by the Guardian

“Prison bosses made more money forcing inmates to play games than they do forcing people to do manual labour,” Liu told the Guardian. “There were 300 prisoners forced to play games. We worked 12-hour shifts in the camp. I heard them say they could earn 5,000-6,000rmb [£470-570] a day. We didn’t see any of the money. The computers were never turned off.”

The prisoner story is just one part to a much larger story about trading online goods, which the government is trying to regulate

It is estimated that 80% of all gold farmers are in China and with the largest internet population in the world there are thought to be 100,000 full-time gold farmers in the country.

In 2009 the central government issued a directive defining how fictional currencies could be traded, making it illegal for businesses without licences to trade.

Fictional currencies? That’s an interesting way to look at the problem. What would they suggest as less fictional currencies? Pieces of paper? Cattle?

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