China Proposes Ban on Converting Game Tokens to Fiat Currency

China’s General Administration of Press and Publication (GAPP) has proposed guidelines for the online games industry, including a ban on converting in-game tokens to legal tender. The draft guidelines also suggest stricter regulations, requiring companies to obtain a license in China, store customer data for up to two years, ensure content compliance with national values, and eliminate opportunities for anonymous user registration. (Source: Coingape)