Government of China Has Banned Gold Farming

According to a report announced by Information week that government of China has banned all types of trading related to Gold in China. The main purpose of this ban is to prevent illegal uses of virtual money to purchase of virtual items made of gold.

The ministry of China has said that virtual money which is been converted into legal money at a constant exchange rate, will allowed only to deal in virtual goods
and services provided by its members, not in real goods and services. That means totally market of gold farming is illegal in China. China has the world’s largest number of Internet users, with 298 million people online in the year of 2008. According to a survey held by the University of Manchester’s Richard Heeks in 2008 that 80 to 85 percents of gold farmers are based in China.

Under the new circumstances, Public Security Authorities will be banned the virtual money to use in gambling. Ministry of Culture is also looking to step up supervision on money launders through virtual credits and any other illegal activities on net.