this settlement with the bsa and the locals is just the first step.ways been the plan, to get the settlement with those entities, and then to get the insurance rights which have been assigned to the trust, so we can go after the insurance companies where most of the money is. i predict that at the end, this will be a multibillion-dollar settlement. john: will all the claimants get same amount or different amounts? >> different amounts to different claimants depending upon the state they were in the severity and longevity of the abuse, there is a lot of ther is a protocol which is basically guidelines for the trustee to assess how much each individual claimant will get. john: when the boy scouts filed for bankruptcy, there was a lot of controversy because the local councils were not involved. a lot of people were saying that is where a significant amount of the assets were held. where is the money for this settlement coming from? >> it is a total of $850 million. $250 million is from the national boy scouts of america organization. $600 million is from

if they need to move it, they should go through bsa compliance we need to crack down on the payment ofasury any companies that pay this is likely sanctioned. i have extensive knowledge of what they can do and can't do and comment on on. if president biden can comment on it, i think it is important to enforce those redlines. >> we've seen some of the great traders and investors. a lot of companies has it evolved at all or are you still a no bitcoin, never, no inherent value kind of guy >> i think my view has evolved i think as it relates to bitcoin, people can buy no different as it relates to gold. i don't personally want to have it in my portfolio i do think it is very important that this is an asset that has a complete bsa and regulatory compliance and under the occ last year, we approved that banks could custodian it the reason we did that is we wanted to make sure that this was becoming in the regulated world. my real focus is that people want to buy it, that's fine. some will go up, some think it will go down it should be in the regulated world. >> sounds like you are still evolvi

government plans to sell down some of its stake rate now bsa, as you know. what is your understanding about how last that government sell down takes place? >> we are encouraged the sell down has restarted. we were able to dissipate in a direct buyback. $1.1 billion up to the maximum at the time. we welcome the government selling down and the opportunity to return the bank into i've it ownership. it is a russian for them. encouraging their recent announcements as well. anna: thanks so much. really good to speak to you. coming up in the ram, making construction greener read we speak to the business about using emissions and costs. we will get into stories that can move the market there. amazon's pandemic pump fades as vaccinated shoppers venture out into the world read we will break down those numbers what they tell us about the broader tech narrative. this is bloomberg. anna: welcome back. the european market open, 45 minutes to go until the start of equity trading. from the european perspective, what is weighing on markets this morning? is that the story abo

i have to argue that every us exchange is bsa regulated. they have to know their customers file suspicious activity reports, and this has been the case since at least 2013. so let me do the prices of cryptocurrency like dogecoin have been quite volatile and seemingly susceptible to influence by statements from persons and groups. maybe even manipulated as was suggested by one of the opening statements here today. is that regulated mr. van valkenburg? so as an open source open network cryptocurrency dogecoin likely does not qualify as a security. the extent that that line is unclear yourself congressman emmer have introduced excellent legislation last congress that was bipartisan and co-sponsored by soto and kana. that would help. clearly delineate that line between securities and commodities, but if we assume today that dogecoin is a commodity it is still a regulated commodity for various purposes. specifically in the manipulation context that you raise the cftc has the duty to investigate and prosecute manipulation including at commodity s