Small font size A Larger text size A Largest text size A

China vows to tighten virtual currency restrictions

BY Reuters | ECONOMIC | 08:15 AM EST

BEIJING, Feb 6 (Reuters) - China on Friday pledged to further tighten restrictions ?on virtual currencies ?and related illicit business ?activities, according ?to ?a notice released by China's ?central ?bank.

"Virtual currencies do not have ?the same ?legal ?status as fiat currencies," the Chinese authorities ?said, adding that business activities related to virtual currencies are "illegal financial ?activities."

Without ?official approval "domestic entities and their controlled ?overseas entities are prohibited from issuing virtual currencies overseas," according to the statement. (Reporting ?by Xiuhao Chen and Ryan Woo; Editing ?by Toby Chopra)

More Fixed Income News

Canada's Ivey PMI shows activity decelerating in January BY Reuters |ECONOMIC 10:24 AM EST
US consumer sentiment improves modestly in February BY Reuters |ECONOMIC 10:22 AM EST
Bitcoin Could Bounce From 50% Crash ? Here's What Record Layoffs Just Changed BY Benzinga |ECONOMIC 10:12 AM EST
Michigan Consumer Sentiment Index Rises Higher Than Expected in Preliminary February Survey BY MT Newswires |ECONOMIC 10:11 AM EST

All Fixed Income News

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

fir_news_article