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Um… This Is Kinda A Big Deal

The People’s Republic of China bans real money trading.

No. REALLY.

“The virtual currency, which is converted into real money at a certain exchange rate, will only be allowed to trade in virtual goods and services provided by its issuer, not real goods and services.” it said.

China has the world’s largest population of Internet users, with 298 million people online as of the end of last year.

According to media reports, the virtual money trade topped several billion yuan last year after rising around 20 percent annually.

China being the largest MMO market in the world, and many Chinese MMOs being dependent on RMT for their income — this will have some ripples.