GotFrag.com - Just recently the Chinese government has stepped in to stop gold farming. They have banned all users and game developers alike from buying or trading for in-game currency. This is the first time any legal actions have been taken in the 10+ years gold farming has been a popular way to make money.This means that the booming market of buying/selling WoW Gold is no longer legal in China.

Gold farming, mostly known when a player or a group of players attempts to acquire as much in-game currency as they can in the shortest amount of time. They then sell the currency online to make a profit, sometimes a major one.

A recent study found that almost 85% of all companies that farm gold are based in China. These companies bring in an estimated $200 million to $1 billion dollars annually. This is a shocking amount and could be a devastating blow to parts of the economy in China.

The Chinese government released this statement with the new ruling:

"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."

It is still uncertain just how far the government will take it and if it will be fully enforced. Will we still be able to see these companies thrive, or will the industry be in ruins because of this shocking announcement? Only time will tell where the Chinese government and the Companies will agree on a resolution, or the Companies will have to find a new home to farm gold.