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 associated governance policies. We’ve stated numerous times that the state of financial regulation in Second Life is farcical and there doesn’t appear to be an end in sight at this stage.
I attempted to catch up with Vandeverre in-world this afternoon for comment but his status was set to Away for the 30 minutes or so that I waited around.
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