China says no to virtual economies

Does this mean the age of virtual money is over?

China has announced new rules that prevent "virtual currencies" like Linden Dollars and QQ coins from being traded for real cash.

...China's ruling does not prevent gamers from purchasing virtual money. It stops the cash flow in the other direction, meaning online-only money can't be converted back into dollars or yuan, an online statement from China's Ministry of Commerce says.

...Online commentators have said the virtual currency restrictions are designed to ban "gold farming," in which workers earn online money by playing games like "World of Warcraft" and then sell their earnings for real money on a black market.

Some have called the process inhumane, and news reports describe sweat-shop-like conditions for the people who work to earn the virtual cash. Most games, including "World of Warcraft," ban the practice, but that's not always successful.