Virtual Currency Becomes Real In South Korea

garylian writes "Massively is reporting that the South Korean Supreme Court has stated that virtual currency is the equivalent of real-world money. For those of you who might not be drawing the link, the core there is that selling in-game currency for real money is essentially just an exchange of currency and perfectly legal in South Korea. This could have sweeping implications for RMT operations the world over, not to mention free-to-play games and... well, online games in general. The official story is available online from JoongAng Daily."

Sweet!

[Reason58]

Every time you die in-game you can write off the armor repair costs on your taxes!

Re:Legal?

[revlayle]

LOGIC - IT HURTS *sizzzzzle*

MARINA.

[Qui-Gon Jinn]

Transfer all your WoW gold to me, for me.

So fix the headline

[tomhudson]

"Real Currency Becomes Virtual(ly worthless) in US".

This message was brought to you by the Fed.

Re:The real reason

[rarel]

Only old people remember that meme.

Re:The real reason

[A nonymous Coward]

You're probably the only one old enough to remember that.

PVP and thieving...

[$1uck]

So in a game such as EQ (the only MMO I've played) you could kill people (on pvp servers) and take their gold. Clearly this is part of the game, but is it something you could be arrested for now?

Re:Sweet!

[undecim]

I'm sure there are many quests in various MMOs that count as charitable donations

Re:Whats the diff?

[stonefoz]

Don't worry, it's still funny here in the US, just for all the wrong reasons. We have "Virtually" the best health care system available, at least that's what they tell me on the TV. Wouldn't want some pinko-commie to actually implement a real health care system. You're right, I shouldn't laugh, someone might charge me for that, it's the best medicine after all?