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Virtual Currency: Online gaming, virtual currency and goods: a legal conundrum

The use of virtual currency and virtual goods has increased alongside the rise of social media. Used primarily within social games, virtual currency is what separates gaming from gambling and enables providers of social games, to escape paying gambling duty and being required to hold a gambling license. Kevin Flood, the CEO of Gameinlane Inc., discusses this legal loophole that deems virtual currency valueless and whether this definition will change.

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Virtual Currency: Online gaming, virtual currency and goods: a legal conundrum

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