Image: Viktor Forgacs
China's complete crypto crackdown

Good morning! This Friday, China said crypto is illegal, the European Commission wants to set a charging cable standard, and Lina Khan set a few goals for the FTC.
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China just took its hardest stance on cryptocurrencies yet.
All crypto transactions are now illegal in China, the nation's central bank said in a notice posted to its website, and cryptocurrencies cannot be circulated. (Excluding those overseen by the government, obviously.)
It's not like China is out on crypto altogether. Inside the country, the government is experimenting with digital currencies, and is already testing a "digital yuan" in cities around the country. It's a bit like the country's approach to its tech industry as a whole: It wants to be innovative and successful, but on the government's terms.
But China is not interested in the global crypto system. For years, Beijing has been cracking down on crypto mining around the country, and banned exchanges from operating within its borders.
The great promise of cryptocurrency was a borderless, global financial system that governments couldn't corrupt or meddle with. That was always a bit of a pipe dream. But China's crackdown has made it clearer than ever: Digital money could have borders too.
The European Commission has dropped the hammer on charging ports, and specifically Apple's Lightning standard that has persisted, stubbornly, for the last nine years.
The European Commission is all-in on USB-C. On Thursday, it announced plans to revise its Radio Equipment Directive to mandate that USB-C become "the standard port for all smartphones, tablets, cameras, headphones, portable speakers and handheld videogame consoles." While most devices already use USB-C, the iPhone and some select consumer electronics like portable speakers and wireless headphones do not.
There are two goals: cutting inconvenience and e-waste. The commission cites data saying 11,000 tons of e-waste are produced every year just from disposed of and unused chargers. Consumers also spend €2.4 billion annually on chargers not included with their devices.
Apple is pushing back. The company has already transitioned most of its product line to USB-C, including new iPads and MacBooks. But this year's iPhone 13 lineup still features the Lightning port, meaning Apple maintains control of the iOS mobile accessory ecosystem.
The proposal has a clear loophole. One potential avenue to sidestep the USB-C requirement is wireless charging, which the commission did not address in yesterday's order. That leaves open the door for Apple and other companies to introduce portless phones that avoid USB-C altogether.
The EU says it won't ignore wireless charging forever. "It is also necessary to provide the basis for adaptation to any future technological progress," the commission told The Verge. But there are also other complications to a universal USB-C standard that will require some further clarification, like how not all USB-C cables are capable of transmitting the same type of data at the same speed.
In the meantime, please enjoy this absolutely mind-melting video ad released 10 years ago promoting a universal charging standard. It never gets old.
Vaccine mandates were already gaining popularity among tech companies looking to bring their workers back to campus safely. Now, the Labor Department's Occupational Safety and Health Administration is expected to issue a new rule requiring companies with 100 or more employees to mandate vaccines or weekly testing.
What does this mean for tech employers, and how should they be preparing for this new mandate? Join Protocol's Allison Levitsky for a conversation on what the vaccine mandates means for you, your company and your employees with Engage Peo HR consultant Sadiqa Banks-Holsey, Nixon Peabody OSHA partner Rachel Conn, and Gartner head of HR research Brian Kropp at 9 a.m PT / noon ET on Thursday.
Thousands of U.S. businesses sold more than $50 billion worth of their products to Chinese consumers with Alibaba last year. Alibaba provides the tools and infrastructure that U.S. businesses need to build their brands in China and reach local consumers.
Marc Benioff says Facebook needs more accountability:
Alexei Navalny is frustrated at Apple and Google for removing a voting app before Russia's election:
On Protocol: It's inaccurate to say payment for order flow or gamification caused the GameStop controversy, Robinhood's Dan Gallagher says:
Maryana Iskander said she's going to lean on neutrality as Wikipedia's new leader:
ServiceTitan is reportedly planning for an IPO early next year. The software company was last valued at $9.5 billion.
Facebook's Antigone Davis will testify at a Senate hearing Thursday. Davis is the company's global head of safety.
Scott Slipy is joining Socure as chief people officer. Slipy was formerly an exec at Microsoft and Cisco.
Camille François is leaving her role at Graphika as chief innovation officer. She's been with the company for a little over three years.
Bijan Sabet is stepping back at Spark Capital. Sabet worked as a general partner and had been with the firm for nearly two decades.
TSMC dismissed seven employees for leaking confidential company information.
If you don't already have access to HBO and Cinemax, your weekend's about to be full of new content. YouTube TV subscribers have through Monday to stream shows and movies from the two networks for free.
Maybe you can knock some movies off your list, like "The Invisible Man" or "Lincoln," or shows like "The Sopranos." And if you're not a fan by the end of the weekend, you can always just go back to your regular streaming service.
This year, China will become the first country where ecommerce sales will outpace brick-and-mortar transactions. U.S. businesses are using Alibaba's platforms to sell to 900 million digitally savvy consumers in China and untap new opportunities for long-term growth.
Thoughts, questions, tips? Send them to sourcecode@protocol.com, or our tips line, tips@protocol.com. Enjoy your day, see you Sunday.
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