Korea rules virtual currency as good as cash  

South Korea recently announced that virtual currency would be treated just like real currency. Note that China has already decided to tax virtual goods using a voluntary reporting system. You may already be aware of several stories of people with reasonable monetary success in the virtual worlds buying and selling virtual goods and using other channels such as ebay to convert virtual currency and goods into cash.  

The ramifications of this move are unprecedented. Farmville and Mafia Wars fans take note.


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