Chinese gold farming lives? Virtual currency trade ok, sort of

The other day the big news was that Estel's family was moving stateside thanks to the pending bankruptcy of her family's gold farming business.  It seems however that Ming may still be on dish duty. 

Information Week may have jumped the gun a little bit and misrepresented the depth of these new Chinese regulations with their "China bans gold farming" title.  Others have stepped in like Professor Richard Meeks and looked over the regulations and real cash for virtual goods is still allowed.  What China wants to regulate however is the trading of virtual cash for real goods, the opposite of gold farming.

There are various virtual currencies in China, the biggest being the "QQ coins" (funny, I know, seen on right), which are being used for gambling purposes and used to buy game cards or various other real world items.  Apparently there is money laundering and all sorts of illicit happenings with these virtual currencies and China has had enough.  Tencent.com, issuer of the QQ coins has vowed to assist the govt. in hopes of stemming the tide of illegal trade with their Paypal-like currency. 

I guess China may not be all that loopy after all, though the porn crack down continues.  What does that mean for you?  Don't expect gold spammers to diminish any time soon.  On top of that the GR Ban List will continue to be dominated by gold spamming retards.