Real Money Trading In Korea: In Plain English

If Funcom's money was gold-backed...

In violation of my court order to only use the gold image a maximum of twice on the front page, many MMOers are probably aware of South Korea ruling that real money trading, the conversion of digital cash to real cash, is now legal. Your gold pieces, kinah, plats, gil, influence, adena, credits, ISK, whatever you call that cash in your pocket, may be traded for real life cash. There appears, as most news stories have this effect, to be a fervor among MMOers (players and developers alike) as to what this means for their favorite titles. Will City of Heroes be encumbered by Koreans? Will Aion become even more saturated with this gold farming menace? Won’t somebody please think of the children?

As always, when there is a legal question to be asked, MMO Fallout’s “In Plain English” is here to explain it to you. To put it down in plain lettering, what this law does is turn the businesses into legitimate operations, that will pay taxes and refer to themselves in a way that would actually describe what they do.

What the law does not do is make gold farming legal, nor will it prevent companies from banning gold farmers. Swearing is legal, but it can still get you banned if you do it in an MMO. Although this bill does run up the possibility of there being a lot more gold farming companies to deal with, now that the scope is no longer limited to shady businessmen running a small building full of gold farmers off the books, and is more along the lines of a legitimate (questionably) business.

In all likelihood, the increased presence of bots and gold farmers will be minimal, unless you’re moderating the MMO Fallout comments and have to deal with “Hey, great website. I agree with all the things you said here and, by the way, I no this guy who powerlevels fishing. You shud try out his service, very cheep.” on a daily basis, or have to deal with magical pingbacks that don’t lead to a valid website (I do check the links in people’s comments before I approve them).

Happy MMOing.

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