Competing currencies, sort of

South Korea has decided that virtual currency is the equivalent of real-world money bringing to light some very real ramifications for users not just in Korea but in other countries as well.

The ruling allowing "cyber money" is the first in Korea and was based on the acquittal of two gamers indicted on charges of illegally making money by selling goods earned in the game Lineage.

The full story is here and I thank Daniel Kent for the pointer.

Addendum: Read the fourth comment for a different take on this story.

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