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Players already have to report substantial real gains on sales of game assets. If you’ve been doing this and not reporting income, especially if it’s beyond tri
by throwawaygh 5y ago
Players already have to report substantial real gains on sales of game assets. If you’ve been doing this and not reporting income, especially if it’s beyond trivial sums (eg like 5 figures or so), talk with your accountant ASAP.
Beyond that, it depends, but the answer definitely isn’t “no”. That’s true even today, btw: game companies can’t knowingly allow money laundering through their in game currency, for example, and gambling laws almost always apply if you can cash out and the game contains any type of chance component (eg loot boxes).
Basically, if your game is setup in a way that could be trivially used for transferring real world assets between players, even existing regulations probably already apply. This is one of many reasons most games only support one way transactions — you can move money into the game but not back out (at least without breaking tos)
“X but in a video game” is almost always actually really X when it comes to money and other assets that can flow into and out of the game easily. A VR Wells Fargo branch is still a bank.
- RHSeeger 5y ago> Players already have to report substantial real gains on sales of game assets That's a pretty far cry from needing to report "user data, including users’ names and addresses" for every in game transfer of digital assets. (As noted in another message, it's still unclear to me if that's what the bill is requiring).