Making Sense Of Virtual Dollars

Law360, New York (December 6, 2011, 1:05 PM EST) -- Financial institutions and currency transactions are highly regulated in the United States. That much is common knowledge. However, game developers may not realize that by creating a system of virtual currency within a game that can be purchased with or redeemed for real currency, they could be opening themselves up to legal issues arising from this morass of federal and state laws, regulations, and rules.

Regulation of virtual currency in online games is a largely untested field. Online game companies and their legal advisers are making...
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