KING POSH'S BLOG

  China’s central bank has sent notice to the country’s financial institutions instructing them to stop dealing with cryptocurrency transactions. The disclosure notes that the People’s Bank of China (PBOC) aims to protect Chinese citizens and “combat the speculation of Bitcoin and other virtual currency transactions.”  PBOC Tells Banks to Stop Dealing With Crypto Exchanges and OTC Desks On June 21, 2021, the People’s Bank of China (PBOC)  issued a notice  to a number of financial institutions concerning crypto transactions. The PBOC says it has discussed the issue of cryptocurrencies with financial services firms like the Industrial and Commercial Bank of China, Agricultural Bank of China, Construction Bank, Postal Savings Bank, Industrial Bank, and the Alipay (China) Network. The PBOC stressed that “virtual currency trading activities disrupt the normal economic and financial order, breed the risks of illegal cross-border transfer of assets, money laundering and oth...

  The United States has maintained the highest gross domestic product in the world since 1871, making it a critical player in the evolution of commerce, finance and technology. The U.S. has been home to some of the most successful, long-standing crypto exchanges and other businesses in the industry.  Over 10 years later, the role of Bitcoin (BTC) in the U.S.’s evolution into digital finance and commerce is still unclear, as U.S. cryptocurrency regulation is still inconsistent, hazy or, at best, done in a patchwork fashion across the 50 states and other territories.  Stay tuned as Cointelegraph covers all the important updates and stories regarding the regulation, maturation and evolution of the crypto space. 

  Ten people - including nine children - have been killed after in a crash involving 18 vehicles in the storm-hit US state of Alabama on Saturday. Butler County Coroner Wayne Garlock has said the children's ages ranged from nine months to 17 years old. He said the vehicles were likely to have hydroplaned on the wet roads and lost control. Tropical Depression Claudette has caused flash flooding and tornadoes, destroying dozens of homes in Alabama Mr Garlock said a father and nine-month-old girl died in one of the cars. The other eight victims were in a bus belonging to the Tallapoosa County Girls Ranch, a foster home for abandoned, neglected or abused girls. The youngest was four years old. A bystander pulled the bus driver to safety and then tried to rescue the children, however the bus was already engulfed in smoke and flames, WTVC television reported. "Our hearts are so heavy today. Our ranch family has suffered a great loss," a post from the Alabama Sheriffs Youth Ranc...

The US hasn’t seen anything quite like this. Over the weekend, temperatures soared to new triple-digit heights across the American West. The immediate cause was a “ heat dome  a mass of high-pressure air trapping heat beneath it, one far stronger and larger than normal.   But what we saw this weekend is what climate scientists have been predicting for decades. And it’s a taste of what’s to come. “It’s surreal to see your models become real life,” Katharine Hayhoe, climate scientist and chief scientist at the Nature Conservancy, says in  The Guardian . Records fell across the region. On June 17, California’s capital of Sacramento h it 110°F   ( 43°C), smashing the last record of 102°F set in 1976. Similar all-time highs fell in Las Vegas, Denver, Phoenix, and other cities thousands of miles apart. In Death Valley National Park, where temperatures soared to  128°F , just one degree off the record, nighttime temperatures stayed  above   111°F (44°C) well...

  Mallers, the founder of a Bitcoin money-transfer startup called   Strike , swiftly maneuvers from inflation and the farce of the Federal Reserve to deliver the real subject at hand: financial injustice in the developing world. In El Salvador, he says, a country that two decades ago abandoned its own currency for the U.S. dollar, 70% of the population is unbanked and many get their income through remittances saddled with outrageous fees. Where, as he tells it, people are left with little choice but to flee their homeland, resorting to crime and violence. “But if you rewind those steps,” Mallers says, “if you can fix the money—you can fix the world.” Now come the tears. Mallers, his voice cracking, explains that that’s why he moved to a little town in El Salvador for three months, to help these people while also launching his company there. “I talked to the kids,” he says, flashing photos of himself with young Salvadorans on the oversize screen. “I told them, ‘Man, we got this...

  Although the leaders at the G7 summit were smiling, the photograph has started a conversation online, with many saying it looked "awkward" From left, Canadian Prime Minister Justin Trudeau, President of the European Council Charles Michel, US President Joe Biden, Japanese Prime Minister Yoshihide Suga, British Prime Minister Boris Johnson, Italian Prime Minister Mario Draghi, French President Emmanuel Macron, President of the European Commission Ursula von der Leyen and German Chancellor Angela Merkel, during the leaders official welcome and family photo in Carbis Bay England. (Source: AP) For the first time since the  coronavirus   pandemic impeded  face-to-face events, leaders from the G7 nations are gathered in the seaside town of Cornwall in Britain for a summit. A photograph of them posing against the backdrop of the sea and a cloudy sky has inspired a plethora of memes. Before the formal session began, the world leaders — from the United States, United Kingdo...