Fuyuancoin Hong Kong Trading Center will officially open on New Year's Day 2016

     According to multiple media reports, the Fuyuan Coin Hong Kong Trading Center, which was invested heavily by Fuyuan Longshuo, will officially open on New Year's Day 2016. This will be the first offshore trading center established for a single currency in the domestic digital currency field.
It is not clear whether the user accounts of the upcoming Hong Kong trading center will be interoperable with the accounts of the mainland trading center. However, it is foreseeable that in the future, the Fuyuan Coin Hong Kong trading center is expected to cooperate with the Fuyuan Coin mainland trading center to form a comprehensive and three-dimensional trading system to provide services to domestic and foreign users.
Rapidly developing, a dark horse in the digital currency circle
Fuyuan Coin adopts a model that combines digital currency with physical entities, and launched a trading platform serving the domestic market in September 2015. Currently, the trading volume of Fuyuan Coin on this trading platform can reach more than 10 million. According to the Fuyuan Coin Marketing Department, launching a trading platform in Hong Kong is the first step for Fuyuan Coin to test the overseas market, and multiple platforms will be launched globally in the future.
Establishing offshore trading centers has become the norm
In order to expand overseas markets, it is not uncommon for mainland digital currency trading platforms to set up offshore trading platforms in Hong Kong, Macau, Taiwan or overseas regions. As early as June 12, 2014, the domestic Bitcoin trading platform Bitcoin Exchange took the lead in launching its overseas trading platform BtcTrade.com, which supports USD top-up transactions and withdrawals. At the end of July 2014, Huobi.com fully opened its overseas trading platform BitVC.com. Subsequently, in August 2014, OKcoin also officially launched the OKcoin International Station.
While many Chinese digital currency startups are choosing to "go global", many foreign digital currency companies are also constantly trying to open the door to China. In the early morning of March 31, 2014, the foreign Bitcoin trading platform BTC-E issued an announcement to officially open the trading of Bitcoin against offshore RMB (CNH) and US dollar against offshore RMB (CNH). The trading of offshore RMB has greatly facilitated the arbitrage and hedging needs of foreign Bitcoin players. BTC-E has thus become the first foreign exchange to announce support for offshore RMB. Subsequently, more foreign digital currency exchanges and companies have joined the army to support Chinese business.

Official presence in the globalization of digital currency
In the wave of global development of digital currency, enterprises are not the only main force. In recent research reports, we are fortunate to see the efforts of governments to cooperate on digital currency. On October 22, 2015, the Court of Justice of the European Union, the highest court in Europe, ruled that Bitcoin and other digital currency transactions are not subject to value-added tax (VAT). Some analysts said that the ruling shows that the EU member states have basically reached an agreement on the issue of digital currency and have taken a solid step towards the legalization of digital currency, which is conducive to the further development of digital currency in the European market.