Why is BTC called legal currency

1. These are all virtual currencies, but they have been torn down. They are all scams. They are illegal fund-raising to cheat other people's money.

2. The legal currency of the Republic of China was issued by the national government ring the period of the Republic of China. On November 4, 1935, it was stipulated that the banknotes issued by the central bank, the Bank of China and the Bank of Communications (later the Peasant Bank of China) should be used as legal currency. The circulation of silver was prohibited, and the legal currency of national credit was issued to replace the silver dollar. The silver and silver yuan stored by various financial institutions and non-governmental organizations are all received by the central bank. Meanwhile, it is stipulated that the exchange rate of legal currency is 1 yuan equal to 2.5P of 1 shilling of pound sterling. The central bank, China and the Bank of communications have no restrictions on buying and selling foreign exchange, which is a gold exchange standard system. After the outbreak of the Anti Japanese War, the government implemented the foreign exchange control policy, and the legal currency became the paper currency standard currency. Take back other banknotes within a time limit. It also stipulated that all public and private funds must be collected and paid in legal currency, and the market silver dollars should be returned to the state, and one legal currency should be exchanged for one silver dollar. At the beginning, French currency was linked with pound sterling and could be exchanged unlimited at designated banks. After the negotiation between the national government and the United States in 1936, China sold silver to the United States in exchange for us dollars as foreign exchange reserves issued by legal currency, which was pegged to British pound and US dollar. On August 19, 1948, it was replaced by golden yuan.

3. Simply put, it is to buy bitcoin directly in RMB. If you want to experience it, I suggest you go to the okex exchange to have a try. In addition to legal currency transaction, okex also has currency transaction, that is, exchange currency for currency. I'm glad you've accepted my answer

4.

Legal currency is the abbreviation of "legal currency" or "legal compensation currency", which is the currency given by the state in the form of law for compulsory circulation. Among them, the main coin is the unlimited legal compensation coin, which can be cast freely; The subsidiary currency is the compensation currency of limited law, which is restricted by the state

Legal currency is the name of currency in circulation in old China from November 4, 1935 to August 19, 1948. In old China, the silver standard system was adopted for a long time. Before "Abolishing the two systems and changing them into yuan" in April 1933, it was actually the combination of silver and yuan“ Although the currency was unified, the financial and economic difficulties of the Kuomintang government were not solved. In order to control the monetary power of old China, Britain and the United States launched a fierce struggle

At the beginning of 1948, prices in Peiping soared. "To buy an egg, you need 24 Jin of French currency (the currency in circulation at that time)," to buy a jin of corn flour, you need 100 Jin of French currency. The French currency is two miles and a half from the beginning to the end, and you can buy a foot of coarse cloth. Compared with the previous year, the price of grain has increased 149 times. " The price of rice, flour and cereals went up crazily, and people's life went from bad to worse

In August, the soaring prices have far exceeded the affordability of the people. In order to alleviate the crisis, the national government decided to issue gold coupons. However, it backfired. Not only did prices fail to stabilize, but the gold dollar coupon became more and more worthless, and the people fell into despair again

at this time, silver yuan became popular, and silver yuan trading markets appeared in Qianmen, Xuanwumen, Dongdan, Xisi, Gulou and other places. There are also many silver dealers in the street, who are jingling and shouting "buy two, sell two"

5. On November 4, 1935, it was stipulated that the central bank, Bank of China and Bank of Communications (later the farmer's Bank of China) should issue legal tender of national credit, or legal tender for short, to replace the silver standard silver yuan and prohibit the circulation of silver.

6. In the 1930s, China's monetary system was extremely chaotic, with a variety of currencies, which seriously hindered economic development. The KMT government was forced to reform for its own interests under internal and external difficulties. In November 1935, it announced the reform order of legal currency
at that time, the silver standard was mainly used in Chinese society, and the familiar yuan Datou was silver yuan. The so-called silver standard system is a monetary system with silver as the standard currency. There are two types of silver standard and silver currency standard. Silver standard is based on the weight of silver "two" as the price standard, the implementation of silver circulation. The standard of silver currency is that the state stipulates that silver is a kind of currency metal and requires it to be cast into a certain shape, weight and fineness; Silver coins can be cast and melted freely; Banknotes can be freely exchanged for silver or silver; Silver coins and silver can be freely exported or imported to ensure the stability of the foreign exchange market. But the silver standard can not guarantee the central control of the government, because it is easy for illegal businessmen to make counterfeit money. Moreover, it is very easy for foreign capital to inject a large amount of silver dollars, disrupting the national market
the policy of legal currency was a currency reform in which the Kuomintang government abolished the silver standard system and adopted the paper currency system. The policy was implemented on November 4, 1935. The main contents are as follows: the bank notes issued by the central government, the Bank of China and the three banks of Communications (followed by the Peasant Bank of China) are used as legal notes; The circulation of silver is prohibited, and silver is returned to the state and deposited abroad as foreign exchange reserves; It is stipulated that the exchange rate shall be one French dollar equal to one British shilling and two and a half pence, and the three banks shall buy and sell foreign exchange without restriction. As a result of the initial British push, China became a vassal of the British pound group. Although the policy of legal currency has its positive significance, it is a failed reform on the whole. After that, many of the plutocrats of the Kuomintang privately printed legal money, which caused great chaos in the economic market, and they took the opportunity to make a lot of money
if it works for you, please help me adopt it.

7.

Legal currency is the abbreviation of "legal currency" or "legal compensation currency". Legal currency is the currency given by the state in the form of law for its compulsory circulation. RMB is also a kind of legal tender

Background of legal currency in the Republic of China:

after the outbreak of the Anti Japanese War, the government implemented the policy of foreign exchange control, and legal currency became the standard currency of paper currency. Take back other banknotes within a time limit. It also stipulated that all public and private funds must be collected and paid in legal currency, and the market silver dollars should be returned to the state, and one legal currency should be exchanged for one silver dollar. At the beginning, French currency was linked with pound sterling and could be exchanged unlimited at designated banks

result:

ring the Anti Japanese War and the war of liberation, the Kuomintang government adopted the inflation policy and the legal currency depreciated sharply. After May 1948, Weng Wenhao was appointed as the chief executive, and Wang Yunwu was appointed as the Minister of finance. He began to plan another currency reform, replacing the legal currency with golden yuan

On August 18, 1948, the government ordered the implementation of currency system reform, replacing legal currency with gold yuan certificate, and forced the exchange of gold, silver and foreign currency into gold yuan certificate. However, e to the hyperinflation caused by overuse, a large number of urban middle class went bankrupt

The legal currency issued by the National Bank and guaranteed by the national credit, which decoupled the currency from the price fluctuation of precious metals, was a progressive reform of the financial system in China at that time, and also a characteristic of the modern national financial system. The issuance of legal currency unifies the domestic currency, and the control of currency issuance is in the hands of the government, so the domestic silver and other hard currencies are concentrated in the hands of the government

Legal tender means that it does not represent real goods or goods, and the issuer does not fulfill the obligation of cash in kind; A currency that becomes legal currency only by government decrees. The value of fiat money comes from the owner's belief that money will maintain its purchasing power in the future. Money itself has no intrinsic value. When paper money comes into being, legal tender is essentially the paper money that can be circulated according to the law

the legal currency of the people's Republic of China is RMB, and the people's Bank of China is the national authority in charge of the management of RMB, which is responsible for the design, printing and issuance of RMB

source: Internet legal currency