Virtual world cracks down on cowboy banks

There’s a banking meltdown in Second Life, too.It seems even this escapist virtual world whose inhabitants fly around and dress up as angels or animals can’t escape the global financial crisis.The world’s creator, Linden Lab, has announced it will regulate the virtual banks strictly in Second Life from now on, after one collapsed amid a credit crunch that Linden said posed “unique and substantial risks to Second Life … likely to lead to destabilisation of the virtual economy”.

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