Submitted by admin on Thu, 2007-03-08 09:00. ::
BEIJING -- Regulators have ordered Chinese websites to limit the use of "virtual money" after concerns the online credits might be used for money laundering or illicit trade.
The order governing credits sold by websites to customers to pay for online games and other services comes amid a campaign to tighten official control over China's online industry.
The most popular Chinese online credits are "QQ coins" issued by the website Tencent.com, which has 220 million registered users. A man who answered the phone yesterday in Tencent's publicity office refused to say how many of the credits it has sold.
Financial experts cited by Chinese media said the growing popularity of QQ coins could complicate the government's ability to control the flow of real currency, and the central bank has issued a warning about the use of virtual money.
News reports in January said customers are using online credits to gamble, pay for phone-sex services and to shop online. Authorities said they were looking into whether the credits were being used as a way to launder money.
Regulators told websites to bar the use of credits for buying goods or other unauthorized purposes, according to the order, issued jointly by several ministries.
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