Korea recognized game currency cash equivalent
The Supreme Court of South Korea issued a verdict on the status of virtual currencies in online games. Henceforth, such currencies are officially considered equivalent to real monetary units. The verdict is final and not appealable.
This is a very important decision that creates a precedent. First, the exchange of virtual currency for real is now completely legalized, even in games where it is prohibited by the rules of the game, for example, in WoW. That is, Korean users can do this without fear of criminal prosecution (although they can still close the game account, because the game belongs to the American company Blizzard).
Secondly, virtual currencies are now legalized and fully fit into the entire legal system, including criminal and administrative law, as well as tax legislation.
And most importantly, if virtual currencies are recognized as real equivalents, then national governments lose their monopoly on the issue of money! Perhaps this is the beginning of the golden era of private money, which libertarians have long dreamed of.
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In general, it came to the Supreme Court thanks to two Koreans who were tried for obtaining illegal income from the sale of virtual goods from the Lineage II universe. However, the Supreme Court acquitted entrepreneurs.
via Software, Interrupted
This is a very important decision that creates a precedent. First, the exchange of virtual currency for real is now completely legalized, even in games where it is prohibited by the rules of the game, for example, in WoW. That is, Korean users can do this without fear of criminal prosecution (although they can still close the game account, because the game belongs to the American company Blizzard).
Secondly, virtual currencies are now legalized and fully fit into the entire legal system, including criminal and administrative law, as well as tax legislation.
And most importantly, if virtual currencies are recognized as real equivalents, then national governments lose their monopoly on the issue of money! Perhaps this is the beginning of the golden era of private money, which libertarians have long dreamed of.
')
In general, it came to the Supreme Court thanks to two Koreans who were tried for obtaining illegal income from the sale of virtual goods from the Lineage II universe. However, the Supreme Court acquitted entrepreneurs.
via Software, Interrupted
Source: https://habr.com/ru/post/81349/
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