Hong Kong virtual currency bank

1. At present, there is no clear regulatory department for such platforms

2.

Hong Kong uses Hong Kong dollar, which is the legal currency in circulation in Hong Kong

e to historical reasons, Hong Kong people have always used Hong Kong dollar. The main reason why Hong Kong dollar can continue to be used is that it has a lot to do with the principle of one country, two systems, because it is pointed out in the one country, two systems that the autonomy of Hong Kong includes the right to issue currency on its own. So Hong Kong can continue to use Hong Kong dollar

< H2 > extended information:

Hong Kong was colonized by Britain for 99 years. During the period of rule, Hong Kong began to use the Hong Kong dollar. The first Hong Kong dollar was issued in 1845 by the Oriental Bank. It can be seen that Hong Kong dollar has a long history. China's first set of RMB was issued in 1948, 103 years later than Hong Kong

according to the basic law of Hong Kong and the Sino British Joint Declaration, Hong Kong's autonomy includes the right to issue its own currency. Hong Kong has established a linked exchange rate system in which the issuance of Hong Kong dollar is linked to the US dollar. The US dollar held by the exchange fund supports the stability of Hong Kong dollar notes

since 1993, the new banknotes issued by HSBC and Standard Chartered Bank will replace the colonial designs with lion head and Bauhinia. Old banknotes can still be used, but will graally withdraw from circulation

3. Personal feeling is not reliable, it may be a MLM currency

bitcoin was once very popular, and then some illegal pyramid schemes began to stir up. They carried out pyramid schemes under the guise of bitcoin and virtual currency. In fact, these pyramid schemes have nothing to do with virtual currency and bitcoin

in order to attract people, some MLM currencies often have a group of international professional development and operation teams under the background of large international companies. The most mentioned team is the elite team of Wall Street. The mode of promotion is pyramid style to make money

bitcoin home, the mainstream media in bitcoin circle, once broke out a similar pyramid scheme.

4. I haven't heard of this virtual currency trading platform. However, under the guise of Hong Kong trading platform, there are many companies running away. Before GBL, mycoin and so on are, this is a typical example, do not blindly worship outside. It is difficult to guarantee the safety factor
the five domestic bitcoin trading platforms, Xigu digital asset trading platform and jucoin network are relatively reliable platforms.

5.

There are many reasons:

first, Hong Kong implements a quasi central bank system. The government has authorized several commercial banks to perform some central bank functions, including Standard Chartered Bank, HSBC Bank and Bank of China

Secondly, Hong Kong implements the linked exchange rate system, that is, the issuance of Hong Kong dollar is linked to the US dollar, and a considerable amount of US dollars must be deposited to issue Hong Kong dollar, so as to avoid the possibility of excessive issuance of Hong Kong dollar

Three is also the reason of history

(IV) the monetary authority of Hong Kong regulates note issuing banks to ensure that no serious violations occur

This system can also realize the relative independence of monetary policy for the government. According to the official information of the Hong Kong Monetary Authority, "the (Hong Kong) government, through the HKMA, has authorized three commercial banks to issue bank notes in Hong Kong, namely, the Hongkong and Shanghai Banking Corporation Limited, the Bank of China (Hong Kong) Limited and Standard Chartered Bank (Hong Kong) limited. This authorization is accompanied by a set of terms and conditions agreed by the government and the three note issuing banks: when issuing bank notes, the note issuing banks must hand over US dollars to the exchange fund at a specified exchange rate of HK $7.80 to US $1 in accordance with the linked exchange rate system; When redeeming the issued bank notes, the corresponding US dollars must also be withdrawn from the exchange fund at the same exchange rate. Bank notes issued by note issuing banks are printed in Hong Kong by Hong Kong Banknote Printing Co., Ltd. At present, the denominations of Hong Kong dollar banknotes in circulation are divided into 10 yuan, 20 yuan, 50 yuan, 100 yuan, 500 yuan and 1000 yuan. Banknotes with denominations of 20 yuan, 50 yuan, 100 yuan, 500 yuan and 1000 yuan are issued by three note issuing banks. In 2002, the government issued $10 paper banknotes in response to the public's continued demand for banknotes of this denomination in addition to $10 coins. In 2007, the government issued $10 plastic banknotes to assess whether plastic banknotes are suitable for use in Hong Kong and acceptable to the public. The 10 yuan notes issued by the two note issuing banks in the 1990s are still legal tender, but they have ceased to be printed. "{ RRRRR}

6. Hello. The legal tender of Hong Kong is Hong Kong dollar
however, the accounts of banks in Hong Kong are generally multi currency accounts, and the commonly used international currencies such as US dollar, Hong Kong dollar, euro, British pound and Japanese yen are OK.

7.

This is because Hong Kong's monetary policy is decided. According to the basic law of Hong Kong and the Sino British Joint Declaration, Hong Kong's autonomy includes the right to issue its own currency. The banks issuing banknotes are Standard Chartered Bank (Hong Kong) Limited, Hongkong and Shanghai Banking Corporation Limited and Bank of China (Hong Kong) Limited

Since 1983, Hong Kong has established a linked exchange rate system linking the issuance of Hong Kong dollar to the US dollar. When a note issuing bank issues any amount of Hong Kong dollars, it must hand over US dollars to the HKMA at the exchange rate of HK $7.80 to US $1, record them in the account of the exchange fund, and print the notes after receiving the certificate of indebtedness. In this way, the US dollar held by the exchange fund will support the stability of the Hong Kong dollar notes. It is worth noting that all banknotes in Hong Kong have right. Therefore, no one can the banknotes without the permission of the right holder

According to Article 110 of the basic law of the Hong Kong Special Administrative Region of the people's Republic of China, the monetary and financial system of the Hong Kong Special Administrative Region shall be prescribed by law. The government of the Hong Kong Special Administrative Region shall, on its own, formulate monetary and financial policies to safeguard the freedom of operation of financial enterprises and financial markets, and exercise management and supervision in accordance with the law

Article 111 The Hong Kong dollar shall be the legal tender of the Hong Kong Special Administrative Region and shall continue to circulate. The right to issue Hong Kong dollars belongs to the government of the Hong Kong Special Administrative Region. The issue of Hong Kong dollars requires a 100% reserve. The issue system and reserve system of Hong Kong dollars shall be prescribed by law. The government of the Hong Kong Special Administrative Region may authorize designated banks to issue or continue to issue Hong Kong dollars in accordance with its statutory authority, provided that it is satisfied that the issuance basis of Hong Kong dollars is sound and that the issuance arrangements are in line with the purpose of maintaining the stability of Hong Kong dollars

8. Bank of China, HSBC, Standard Chartered Bank and the Hong Kong SAR government also have the right to issue Hong Kong dollars. Purple 10 Hong Kong dollars is issued by the Hong Kong government.

9. In addition to the above three note issuing banks, the new $10 notes are issued by the Hong Kong government

Hong Kong notes

note issuing banks

the government, through the Hong Kong Monetary Authority (HKMA), authorizes three commercial banks to issue notes in Hong Kong, namely, Hong Kong and Shanghai