Cambodia virtual currency transaction

1. Don't be fooled. China does not recognize the legitimacy of any virtual currency.

2. 1、 Classification
1. Digital cryptocurrency: a digital currency created, distributed and maintained by cryptography and verification technology. The characteristic of cryptocurrency is that it uses peer-to-peer technology and everyone can issue it. For example, bitcoin, lightcoin
2. Shanzhai coin: imitates the theory of digital cryptocurrency, applies digital encryption technology such as blockchain, and issues digital currency in different instries
3. Air currency: fabricated application background. It uses blockchain and other technologies as packaging, constructs value system at will, takes illegal possession as the purpose, and swindles investors by Ponzi scheme< Second, profit model
1. The profit model of digital cryptocurrency mainly includes proction and investment speculation. Proction is also known as mining, different procts have different proction modes. Its principle is to calculate the number by computer, and finally get the encrypted string in accordance with the formula. Investment speculation is the same as investing in ordinary financial derivatives. With the change of market supply and demand, the value of money will change periodically
2. Shanzhai coin: the profit in the early stage is similar to Ponzi scheme, and the customer level is built by direct selling. The principal of later investors is the source of profits. The difference between air currency and air currency lies in: first, it has a certain theoretical application basis, such as Internet traffic, agricultural application, etc. Second, through the operation in the later stage, it can proce a certain monetary value. Third, it has certain circulation
3. High return, rapid accumulation of funds< Third, legal definition
1. It is not allowed to issue and trade digital cryptocurrency in the people's Republic of China, and its legitimacy is questioned. The main reason is that the supervision of digital currency is difficult, which may restrict the circulation of currency. In addition, because digital encryption currency has no solid value support, the huge economic bubble will easily cause financial system risk.
2. Therefore, this kind of business is the main body of the market. Most of the issuers are located in Malaysia, Singapore and other areas with relatively lax supervision and relatively open financial markets
3. Strike hard. One case was found, investigated and dealt with, and identified as financial fraud. The main issuers are generally in Myanmar, Cambodia and other areas where military protection forces are more prevalent. After raising funds from Chinese mainland, the local military will pay protection fees. Later, he directed domestic crimes abroad.

3.

There are two reasons for the prohibition of virtual currency trading by the state:

1. The price fluctuates violently and the consumer protection is lacking:

virtual currency is the proct of network, and the digital information flowing in the network is beyond everyone's control. The code of cyberspace is the basis of the operation of virtual currency, investors can only operate through the front-end interface, seemingly "control" the virtual currency. The operator of the virtual currency service organization may become the actual controller of the virtual currency through the control code

bitcoin and other so-called "virtual currencies" lack a clear value basis, the market is full of speculative atmosphere, the price fluctuates violently, and investors blindly follow suit, which is easy to cause capital losses

2. Evade supervision and become the "accomplice" of criminal activities:

bitcoin is popular as a payment tool in the so-called "dark web" world“ The "dark net" is full of all kinds of serious criminal activities. One of the original intentions of the invention of bitcoin is to evade regulation. It has the characteristics of anonymity and convenient cross-border flow, and has become the preferred tool of "underground economy"

the existence of bitcoin and exchanges and other instrial chains has constructed a illegal financial market for asset transfer and financing in addition to legal currency, increased the difficulty of regulatory authorities in managing financial security and stability, and promoted regulatory arbitrage and financial crimes. The risks and social security risks it brings to the financial market are far higher than its innovative value

extended information

virtual currency transactions are not protected by law:

according to the notice on preventing bitcoin risks issued by the people's Bank of China and other departments on December 3, 2013 and the announcement on preventing financing risks of token issuance issued by seven ministries and commissions including the people's Bank of China on September 4, 2017, virtual currency is not issued by monetary authorities, It is not a real currency because it does not have the monetary attributes of legal compensation and compulsion

in terms of nature, virtual currency should be a specific virtual commodity, which does not have the same legal status as currency, and can not and should not be used as currency in the market. Although citizens' investment and trading in other virtual currencies are personal freedom, they can not be protected by law

4.

The currency of Cambodia is Khmer . According to the exchange rate on December 6, 2019, 100 RMB = 56895.45 Khmer

the exchange rate between RMB and Cambodian Riel is 1 RMB = 568.9545 Cambodian Riel; 1 Cambodian Riel = 0.0018 RMB

After the liberation of Phnom Penh on January 7, 1979, the people's Democratic Republic of Cambodia announced that a new set of currency was being prepared. It began to circulate on March 20, 1980. While retaining the currencies of the socialist neighbors, these currencies are not signed, depicting the pastoral scenery of Cambodia. Together with the money issued in 1987, they were used until the early 1990s, when the severe economic crisis led to the abandonment of small denominations

First, if the local currency depreciates, then the purchasing power of foreign currency will be strong, so a certain amount of foreign currency can buy more domestic procts, which means that the price of domestic procts in the international market is relatively cheap, thus increasing exports; On the other hand, if the local currency depreciates, the price of foreign goods will be expensive, so the domestic imports will inevitably decrease

Therefore, the result of RMB devaluation is to expand exports, restrain imports, increase trade surplus and promote economic development

The devaluation of local currency will cause trade frictions, which is not concive to the stability of national economy

Devaluation will not solve the problem of external demand slowdown. Although devaluation will help export enterprises survive because of cost rection, it is difficult to last. Especially for the instries that have lost competitiveness in China, devaluation will only delay the exit time of instries

5.

The currency used in Cambodia is called Riel

Cambodian Riel, also known as Cambodian Riel; J RI., standard symbol: KHR) the legal tender name of Cambodia

e to the daily fluctuation of Riel value, there is a real demand for high face value notes. A batch of 1000 Riel banknotes made in Russia and 2000 Riel banknotes printed in Germany, which Hun Sen intended to issue, were transported to Cambodia in early 1993

expansion:

development course

from 1941 to 1945, ring the two World War, French Indochina was first administered by the Vichy government of France (then the Japanese Alliance), and later ruled by the Japanese. After the surrender of Japan and the return of France to Indochina, the Federation of Indochina was established, giving each country a limited independence within the French Federation, which continued until 1954 when Kampuchea was completely independent. p>

after Cambodia's independence from France until October 1955, Cambodia was unable to issue its own currency. After that, the National Bank of Cambodia was responsible for the issuance of all currencies until the Khmer Rouge captured Phnom Penh on April 17, 1975

The initial series of notes were printed in France and issued in March 1995. Interestingly, the designs of these notes are all based on the designs of the coins that were issued in the 1950s and 1960s. The green 1000 Riel note is almost the same as the red 5 Riel note that was first issued in 1961

5000 Riel is a of October Riel in 1962. The other 1000 Riel is equivalent to 100 Riel in 1956. 20000 Riels originated in January 1956. 50000 Riels originated in 1963. 100000 Riels, though not obvious, also came from 500 Riels in 1956

6.

According to the latest exchange rate on September 2, 2020, 1 Cambodian Riel = 0.001668 RMB, 500 Cambodian currency is equal to 0.834 RMB

throughout the 1980s, the Democratic National Bank of Cambodia became the National Bank of Cambodia as Cambodia became more free and market-oriented. In the early 1990s, it changed its name back to the National Bank of Cambodia

In 1992, the UN peacekeeping forces entered Cambodia, which put great pressure on the Cambodian economy. The value of the Cambodian Riel depreciated from 800 Riel to 2000 Riel to us dollar. New 200 and 500 Riel banknotes were put into circulation, and the new 50 Riel banknote replaced the red 50 Riel banknote issued in 1980

extended information:

< P > the development of Cambodian currency. A batch of 1000 Riel banknotes made in Russia and 2000 Riel banknotes printed in Germany, which Hun Sen intended to issue, were transported to Cambodia in early 1993

For fear of aggravating the already severe inflation, Hun Sen decided not to issue the two currencies until he won the UN backed election in May of that year. However, e to the unexpected victory in the Fengxin bick party election, these notes never entered the circulation field. Bundles of banknotes flow into Thailand and are bought by collectors from all over the world

in the years after the election, Cambodians have to carry bags full of small banknotes for shopping until a series of currencies currently in use are finally in circulation. At that time, Riel had fallen to nearly 3000 to a dollar, and even a small transaction required carrying a large pocket with a large amount of paper money

7.

The general legal tender of Cambodia is KHR, which is issued by the Central Bank of Cambodia. As early as 1863, the king of Cambodia made a treaty to take reil as the national legal tender

the currency issued in Cambodia is called Riel, with denominations of 100 Riel, 500 Riel, 1000 Riel, 2000 Riel, 5000 Riel (not yet issued), 10000 Riel, 20000 Riel, 50000 Riel and 100000 Riel respectively

the currency commonly used in Cambodia is US dollar in addition to Riel, and the exchange rate between Riel and US dollar is still fixed, usually one US dollar can be exchanged for 4000 Riel

The initial series of banknotes were printed in France and issued in March 1995. Interestingly, the designs of these notes are all based on the designs of the coins that were issued in the 1950s and 1960s. The green 1000 Riel note is almost the same as the red 5 Riel note that was first issued in 1961. Similarly, the 2000 Riel note is almost a replica of the blue 50 Riel, which was launched in 1956

5000 Riel is a of October Riel in 1962. The other 1000 Riel is equivalent to 100 Riel in 1956. 20000 Riels originated in January 1956. 50000 Riels originated in 1963. 100000 Riels, though not obvious, also came from 500 Riels in 1956

exchange rate

1 RMB (CNY) = 584.46 KHR

1 US dollar (USD) = 4000 KHR

1 (GBP) = 5983.6 KHR

1 EUR = 4322 KHR

8. Exchange: U.S. dollar and R in Cambodia, U.S. dollar and R in Cambodia, about $1 = 4000R. Generally, shops and restaurants charge both. If they encounter small change in US dollars, they usually charge small change according to the conversion of US $1:4000r. However, in the market, they can often exchange it with us $1:4200, so it's more cost-effective to counter-offer with us $R. Hotels, tickets and car rentals are mostly only US dollars. All hotels and markets in Siem Reap, Phnom Penh have exchange points. There are a lot of Chinese shops and restaurants in both Phnom Penh and Siem Reap. However, most of them do not accept RMB because of circulation problems. Master / visa card can be used in most supermarkets and stores. UnionPay card can only be used in the Bank of Canada in Siem Reap, and its logo is not seen in other places.

9. It's true. There are live photos and license plate photos. You can see the live photos by searching the report content on the Internet. It's true. It looks very powerful