Friday Briefing: China turns the screws in crypto crackdown

The Reuters Daily Briefing Friday, September 24, 2021 by Linda Noakes Hello Here's what you need to know. The world's youth return to the streets, Evergrande investors are in limbo, and queues form at British petrol stations Today's biggest stories BUSINESS China intensified a crackdown on cryptocurrency trading, vowing to root out "illegal" activity in trading of bitcoin and other virtual currencies and issuing a nationwide ban on cryptocurrency mining. China Evergrande has left global investors guessing over whether it will make a key interest payment, adding to fears that Beijing will let overseas bondholders swallow large losses as a liquidity crisis deepens at the world’s most indebted property company. The crisis poses a $305 billion conundrum for President Xi Jinping: how to impose financial discipline without fueling social unrest. Britain vowed to do whatever it takes to resolve a trucker shortage that has closed petrol stations and strained supermarket supply chains to breaking point but the haulage industry cautioned that there were no quick fixes. Nike cut its fiscal 2022 sales expectations and said it expects delays during the holiday shopping season, blaming a supply chain crunch that has left it with soaring freight costs and products stuck in transit. Federal Reserve Chairman Jerome Powell remains favored for renomination by the White House, and if recent history repeats itself a decision may come at any time before the central bank meets again in early November. People participate in the Global Climate Strike of the movement Fridays for Future in Warsaw, Poland, September 24, 2021. REUTERS/Kacper Pempel WORLD Young people around the world began taking to the streets to demand urgent action to avert disastrous climate change, in their largest protest since the start of the COVID-19 pandemic. Britain's Port of Dover, Europe's busiest trucking port, said protesters had blocked its entrance and exit, the latest disruptive action by climate change activists in Britain. The Taliban's new defence minister has issued a rebuke over misconduct by some commanders and fighters following the movement's victory over the Western-backed government in Afghanistan last month, saying abuses would not be tolerated. Libya's best chance of peace in years is at risk of unraveling as factions tussle over looming national elections that were envisaged as a way to end a decade of chaotic division. More than half of Australia's adult population are now fully vaccinated against COVID-19, authorities say, as they step up inoculations in hopes of easing restrictions while cases linger near daily record levels in Victoria. Catalan separatist leader Carles Puigdemont, who was detained by Italian police in Sardinia, must face justice in Spain, the Spanish government said ahead of an extradition hearing. U.S. The U.S. House of Representatives Select Committee investigating the deadly January 6 riot at the Capitol has subpoenaed four former members of Donald Trump's administration, including Mark Meadows and Steve Bannon. Arizona Republican senators who commissioned an audit of the 2020 presidential election will announce their findings today, concluding a widely criticized effort spurred by Trump's false claims of widespread electoral fraud. The U.S. special envoy to Haiti resigned in protest in a letter that blasted the Biden administration for deporting hundreds of migrants back to the crisis-engulfed Caribbean nation. "I will not be associated with the United States' inhumane, counterproductive decision to deport thousands of Haitian refugees and illegal immigrants," Daniel Foote said. Former Minneapolis police officer Derek Chauvin has filed an intent to appeal with the Minnesota state appellate court in his murder conviction for the death of George Floyd. Gabby Petito's boyfriend, whom police have sought for six days in connection with the 22-year-old travel blogger's death during their cross-country road trip, was charged with fraudulently using her bank debit card. Quote of the day "For the super-rich, this is red hot. Entrepreneurial families are highly alarmed" German-based tax lawyer German millionaires rush assets to Switzerland ahead of election Video of the day Indian medics scale rockslides to vaccinate villages To visit the Indian village of Malana deep in the Himalayas, a COVID-19 vaccination team scrambled over a landslide that blocked the road the day before, scaled a retaining wall and then began a three-hour trek down and up a river valley. And finally… Good friends and fresh blood: the social life of a vampire bat Social bonds among vampire bats as they roost in trees include grooming one another and regurgitating blood meals for hungry pals. More from Reuters COVID-19 Reuters Investigates Legal news The Great Reboot Thanks for spending part of your day with us. Share your thoughts You are receiving this email because you signed up for newsletters from Reuters. No longer want to hear from us? Unsubscribe from The Reuters Daily Briefing. Terms, conditions, and privacy statement © 2021 Thomson Reuters. All rights reserved. 3 Times Square, New York, NY 10036