The legality of selling online currencies for cash

For example, in the case of runescape, is a person at risk of being accused of a crime if they decide to sell runescape gold. If illegal, is this a civil or criminal prosecution? If criminal, what is the amount of time spent in prison? As an example, I'd want you to say what the risk is for someone who makes 500$ a month vs someone making 5000$.

If you do make a decent amount of money you should file for taxes to minimize risk, so it might be impossible to avoid being caught, so don't consider avoid being caught as an okay answer. It does seem that no individual has been prosecuted, I was just wondering if there was some risk involved.

 

Depends what country you operate in. In the U.K - no it's not illegal however depending on how much you earn you'll need to register as a sole trader and pay taxes or register as a limited company. If you don't then it's illegal.

Heavily frowned upon though by the gaming company's (obviously) but also a few payment merchants / processors.

Depending on how you obtain the gold it could also become illegal - I.e hacking accounts.

You need to research heavily before getting majorly involved.

 

different countries equal different methods one may sell 100m for 110 dollars others have to buy for 200 dollars depends where u live tbh

 

It's illegal in terms of in the eyes of Jagex, you are getting an income off violating their rules(which they punish you for).

It's not illegal in the United States, my site for example was able to jump through all the business hoops and get registered as a legal LLC entity in the state of Ohio, yes I file taxes for it as its a online business, if you don't file taxes then yes that's illegal.

I'm no law expert but I would assume civil prosecution for you not filing the right taxes, you'll also be fined a large amount I assume.