let's bring in glenn goodman. he's a financial invest in author of the crypto trade a joins as far as skype from london. glen give us some context 1st. what has child is involvement? been in the global bitcoin industry, china used to be pretty central to the global bitcoin industry because most of the so called bitcoin mining with carried out in china until very recently in fact, until only a few months ago. you have these and i want to say big coin mining to people who don't know what it is. it's basically large powerful computers carrying out extremely complex calculations. and when they sold these calculations then bit coins come in to being basically or other whoever sold them 1st and best sort of gets, gets a new particular bitcoin. and then maybe another group of mine who gets an expert quote. but it goes on like, you need enormous warehouses, full of computers, these days, very powerful ones. they were based in sort of, out of the way areas in china, china then band mining earlier on this year. and even tho

glenn goodman has crypto currency. outsmarted all of the financial regulators of the world. think the problem is it just changes so quickly. i mean, for example, the defy industry, the centralized finance, which in some ways could replace part of the, the borrowing and lending industry. i mean, that just grew up for a moment. nothing in the space like a year. so of course that's kinda struggling to get their heads right. and we haven't even talked about f t 's cause you know, the j pegs which people buy and sell and audio files and that kind of thing. i mean, that's a whole lot of burgeoning industry which again what nobody had heard of last year. and now it's like a pretty big deal with multi $1000000.00 deals going on the whole time. so yeah, regulatory and regulators all struggling to keep up. and there are always several steps behind, you know, even in the traditional finance industry. i would like, i would like to say that i would like to see crypto exchanges better regulated. i'd like to see them regulated like stock exchanges. so the, the kind of people who come to me

glenn goodman, then all we talking about a universal system of regulatory authority that takes place globally. are we talking a financial un security council of sorts? is that the only way of actually managing crypt currency? maybe eventually, but certainly not in the foreseeable, foreseeable future. there's not really any sign of that being done country by country. and i think a different view to john biggs on, on some of these issues, for example, with, with regards to china. now, i don't live in china and i don't know how easy it is to get around the rules. but i did read the people's bank of china's new rules or new statement, rather on crypt currency, which was earlier this week. and those are pretty strong words. basically, anybody who even owns any county or tries to deal in any correct because he just an ordinary person trading. it isn't legal trouble now. like could be very serious legal trouble. we could have, you know, the intelligence services bang on their door content trouble, at least that's what the people's bank of china's note employed. so i would be very scared if