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June 13, 2011, 04:23:24 AM |
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Virtual currency, as defined by Chinese authorities, includes "prepaid cards of cyber-games," according to a joint release issued by China's Ministry of Culture and Ministry of Commerce
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
The government justifies its ban on virtual currency trading as a way to curtail gambling and other illegal online activities.
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