Massively's Tateru Nino has written about the legality of virtual stock exchanges, including Second Life's World Stock Exchange run by Australian Luke Connell. ASIC is Australia's financial market watchdog and their view on virtual stock exchanges is that they don't fall under their purview - but that Fair Trading entities may scrutinise any claims of such markets being … [Read more...] about Legality of virtual stock exchanges – ASIC makes a call
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Australian Federal Police to establish Second Life presence?
The Australian ran a story last weekend alluding to the Australian Federal Police setting up shop in Second Life. AFP Assistant Commissioner Andrew Colvin is quoted as saying the organisation is "considering" Second Life as a base of operations for its High Tech Crime Centre. I'm taking the whole story with a large grain of salt as it's written by Natalie O'Brien, who has … [Read more...] about Australian Federal Police to establish Second Life presence?
World Stock Exchange facing legal problems?
The Second Life Herald are running a story on the Midas Bank saga, alleging that Midas have done some legal investigations around their issues with the World Stock Exchange, run by Australian Luke Connell (LukeConnell Vandeverre). If the issues aren't resolved and things do go legal, it'll provide a fascinating test-case for the status of finance in virtual worlds and … [Read more...] about World Stock Exchange facing legal problems?
Landbots and drowned avatars
The Second Life Herald ran a story today about landbots, those automated entities that cause all sorts of problems with buying and selling land. The SL Herald is alleging that around 20 avatars placed in water sims are part of the landbot scam. Whatever the reason for the submerged avatars, it's a little strange. Yesterday I noticed that an avatar was showing up in the middle … [Read more...] about Landbots and drowned avatars
Linden Lab CEO: ‘We’ve got to increase the quality’
Reuters have published an interview with Linden Lab CEO Philip Rosedale from this weekend's SLCC. Most of the interview is fairly predictable but it's encouraging to see the acknowledgement of quality as the key driver into the future: "We’re at a place where we’ve demonstrated that the virtual world can exist. Now we need to make it high quality so it does continuously … [Read more...] about Linden Lab CEO: ‘We’ve got to increase the quality’