The Ministry of Culture and Tourism in South Korea has proposed a bill prohibiting the sale or purchase of virtual currency for anyone gaming in the country. According to the Ars Technica article, no limits would be imposed on trading.

Never mind how logistics of trying to enforce such a law, a full prohibition on a billion-dollar industry is simply a reaction to a trend which legislators have little understanding of. Even if enacted, virtual consumerism would continue to grow. A bill that taxes virtual economies would be more realistic, but could such a bill be enforced?

This article was originally published on Joystiq.