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Vincent Yu / AP

The Chinese government has banned "initial coin offerings" (or ICOs), according to reports by local media. The government committee led by China's central bank also issued a list of 60 exchanges that will be investigated, though some have already halted their ICO trades.

Why it matters: ICOs have recently exploded in popularity as an alternative mechanism for cryptocurrency-related projects to raise money to fund their development. In China alone this year, there have been 65 ICOs that have raised a total of $397.1 million as of July, according to Chinese news agency Xinhua. However, there have been rising concerns over scams, and regulators are taking action. In July, the U.S. Securities and Exchange Commission issued a warning that some ICOs may be subject to securities laws.

Go deeper

59 mins ago - World

Israeli officials will object to restoration of Iran deal in D.C. visit

Photo: Anadolu Agency / Getty Images

Israeli Prime Minister Benjamin Netanyahu has instructed the delegation traveling to Washington, D.C. next week for strategic talks on Iran to stress their objection to a U.S. return to the 2015 nuclear deal and to refuse to discuss its contents, Israeli officials say.

Why it matters: That position is similar to the one Israel took in the year before the 2015 nuclear deal was announced, which led to a rift between the Israeli government and the Obama administration. History could now repeat itself.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Brendan Lynch/Axios

  1. Health: Coronavirus cases aren't budging — even after vaccinations doubled— Health care workers feel stress, burnout more than a year into the pandemic — Handful of "breakthrough" COVID cases occurred in nursing homes, CDC says.
  2. Vaccines: Johnson & Johnson's vaccine production problems look even bigger — All U.S. adults now eligible for COVID-19 vaccine.
  3. Political: Watchdog says agency infighting increased health and safety risks at start of pandemic.
  4. World: EU regulator: Benefits of J&J vaccine outweigh risk of rare blood clots.
  5. Variant tracker: Where different strains are spreading.

Latino lawmakers want new Marshall Plan

Migrants from Honduras, Guatemala and El Salvador arrive in the U.S. after crossing the Rio Grande from Mexico into Roma, Texas. Photo: Tayfun Coskun/Anadolu Agency via Getty Images

Hispanic U.S. House members are pushing for an aggressive, multiyear "Marshall Plan" for Central America to tackle regional violence, corruption and economic devastation.

The big picture: The call for a Central American plan, similar to a U.S. program that rebuilt Western Europe following World War II, comes as both political parties and the Biden administration struggle to find short-term solutions to the ongoing humanitarian crisis. The price tag: TBD.