Is social game currency subject to new credit card laws?

It may be odd to think of social games as a kind of banking and credit-granting institution, but when you think about it, they’re largely in the business of turning real currency into a kind of virtual credit or gift certificate that can only be spent in their virtual worlds. And its that portion of the business that may run these games afoul of laws meant to regulate credit cards and banks, according to a recent article at InformationWeek . Dax Hansen, a partner at Perkins Coie’s Electronic Financial Services, told InformationWeek that the recent Credit Card Act of 2009 has language that treats electronic point accounts — like those used in social games — as a sort of gift certificate.