Chinese Microblog Service Introduces Five-Strike Program To Block 'Rumors' And 'Evil Teachings'

In a country where the mainstream media is tightly controlled, Chinese microblogs have provided an invaluable way for millions of people to find and share unofficial information. That's obviously problematic for the Chinese authorities, who have been gradually clamping down on what they term "rumors". 

On Techdirt.

China's Virtual Money Woes

It's spreading:

As if Chinese leaders did not have enough of a headache trying to manage the country's rising but still undervalued currency in the testy world of international trade, now the growing popularity of virtual money enters the already complex equation.

The so-called "QQ" coin - issued by Tencent, China's largest instant-messaging service provider - has become so popular that the country's central bank is worried that it could affect the value of the yuan. Li Chao, spokesman and director of the General Office of the People's Bank of China (PBOC), has expressed his concern in the Chinese media and announced that the central bank will draft regulations next year governing virtual transactions.

So tell me again the difference between real and virtual currencies....