Line is under investigation over its use of virtual currencies
Apr06
Financial regulators in Japan are investigating the creators of the Line messaging app over a coin used in one of its games. By law, any form of virtual currency within games must be reported in Japan. However, Line, which has over 200 million users worldwide, has said the coin in question isn’t regarded by the company as a form of currency so it hasn’t declared it, although it has filed other coins. The law also requires Line to deposit half the amount of its virtual currencies with local bureaus of the Justice Ministry as a means to protect consumers should the…
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