China restricts the use of virtual money

Concerned about the use of online virtual money accounts for money laundering or illegal transactions Chinese managers require restricting the use of this currency on domestic websites.

The scope of this decision includes online virtual money accounts provided by online game service providers to their customers and some other services.

The move is part of an effort to further tighten the Chinese government's online industry management.

The most popular type of Chinese money account is the "QQ coins" account provided by Tencent.com website. This service has attracted about 220 million users. However, Tencent's representative declined to disclose the exact number of QQ coins accounts that were sold to the market.

Citing information posted on Chinese media, financial experts say QQ coins' rapid growth and popularity may make it difficult for the government to control real money. in circulation.

The Chinese central bank itself had previously issued a warning message about this situation.

According to Chinese managers, virtual money accounts have been used to purchase real goods and serve other prohibited purposes.

Requests from regulators were sent to domestic Internet service providers last week and officially posted on national news agencies earlier this week.

Meanwhile, China's central bank is trying to improve the virtual money management standard used in online game services. The bank has tightened the use of virtual money and requires virtual account service providers to distinguish clearly the type of virtual account and virtual currency used in e-commerce and what kind of purchases.

Chinese managers also demand a ban on the exchange of virtual currency for real money.

China is currently the second largest Internet user in the world with 137 million people. The goal of the Chinese government is to use the Internet for legal training and business purposes, banning all forms of Internet use for wrong purposes.

Hoang Dung