China Restricts Minors From Using Virtual Currency 142
eldavojohn writes "For those under eighteen who play video games in China, life just got a little harder. Not only is gold farming illegal, but starting August 1, virtual currency platform makers are expected to put in safeties that prohibit underage players from using virtual currencies — because doing such a thing might promote 'unwholesome' behavior. The new regulations explicitly 'forbid content advocating pornography, cults, superstitions, gambling, and violence in all online games.' The business papers are picking it up as a number of stocks from companies like Tencent Holdings — which is heavily based in virtual currency in China — fell about 5%, though the company said that the ban on minors will not affect it."
But They DO Tax It, Or At Least Try To ... (Score:3, Informative)
If they can't tax it then ban it!
After it challenged the Yuan [slashdot.org], they did implement a tax [slashdot.org]. Although, who knows, if the tax collector comes knocking maybe he won't find anything wrong if the right amount of paper is left in his hand after you shake it?
Re:Virtual Currency vs 'play money'? (Score:2, Informative)
Re:cults? (Score:2, Informative)
From Wikipedia: The word cult pejoratively refers to a group whose beliefs or practices are reasonably considered strange. The word originally denoted a system of ritual practices. The narrower, derogatory sense of the word is a product of the 20th century, especially since the 1980s, and is considered subjective, and is a result of the anti-cult movement, which uses the word in reference to groups seen as authoritarian, exploitative and possibly dangerous.