India will propose a law banning cryptocurrencies, fining anyone trading in the country or even holding such digital assets, a senior government official told Reuters in a potential blow to millions of investors piling into the red-hot asset class. The bill, one of the world’s strictest policies against cryptocurrencies, would criminalise possession, issuance, mining, trading and transferring crypto-assets, said the official, who has direct knowledge of the plan.
India’s markets regulator unveiled new rules late Wednesday that will limit investments by mutual funds in some debt instruments, after investors suffered losses from writedowns on riskier bonds last year, Bloomberg News reported. The regulations, which take effect April 1, relate to debt such as some securities sold by banks which have features that allow losses to be imposed on creditors before equity holders, according to a circular from the Securities & Exchange Board of India.
Two developments in the China Fishery Chapter 11 bankruptcy filing have given William Brandt, the trustee overseeing the sale of the company’s Peruvian assets, hope that he will get a deal done, Seafood Source reported. On 19 February, Brandt filed a proposed settlement agreement with China Fishery Group’s court-appointed liquidator, FTI Consulting, which had sued the company, arguing it had used ill-gotten earnings to purchase Copeinca in 2013.