and says it will not cooperate with new york attorney general request for information so we have jesse powell telling the new york attending attorney general you know go away we left new york and this was a good this actually proved to be a good idea because now all these other companies that. allow customers from new york are subject to the bit license. we have another headline here max regarding censorship resistance of bitcoin and that is the chinese entrepreneurs have some creative responses to the government's crackdown on crypto so every time the government's crackdown on crypto the headlines read and of course no pointers will say ha ha big point is dead you guys are going to die because the government's going to get you i told you this all the time it's like the government's after you and they're going to shut you down well you know there's no bigger government no bigger surveillance state than the chinese government and what they show and this article is that all these decentralized exchanges are popping up all sorts of ways to get around government censorship of the block chain it d

jesse powell at the crack and exchange they have told schneiderman in new york to pound sand a basically. they're trying to.

jesse powell at the crack in exchange they have told me to new york to pound sand a basically you know they're trying to dig into all the market making that goes on in these exchanges and they wonder how price discovery works on these various exchanges and so all these exchanges are saying look we're opposed regulatory framework or opposed to be our currency framework we're entering a new era we don't need the f.c.c. that c.f.d. see any of these regulators guys were taken this thing to another level is based on a whole different valuation model and just to give you some context of you know my history in all this and how i got into it was back in one nine hundred ninety five one nine hundred ninety six i started the company in los angeles called the hollywood stock exchange and we were trading virtual assets with a virtual currency on a virtual exchange and to build that technology which was pretty new at the time i had to invent a technology so i invented a technology called the virtual specialist technology is that has a u.s. patent i think it's five nine five zero one seven six is th

an indication of our success my kids are there shooting up heroin and difficult in the street jesse powell will say because i'm a hero in america thank you just this last hour is going to show exactly and demonstrate the truth of what you just said because it says government backed firms make up ninety six percent of mortgage security issuance so u.s. housing policy is frozen in time when fannie mae and freddie mac. were bailed out in two thousand and eight lawmakers promised a reset of u.s. housing finance but ten years later next to nothing has changed so government backed firms ninety six percent of all mortgages are backed by the. us government the taxpayer and you know i remember the two thousand and eight financial crisis well it was a caused by wall street reaping huge amounts of fees and profits for themselves when they spun all these subprime mortgages into c.d.o. is another mortgage backed securities and they profited hugely they all went bust they got caught holding some of these dodgy products they got. themselves call them . you know goldman sachs famously in the testing so wh

and says it will not cooperate with new york attorney general request for information so we have jesse powell telling the new york attending attorney general go away we left new york and this was a good this actually proved to be a good idea because now all these other companies that. allow customers from new york are subject to the bit license. we have another headline here max regarding censorship resistance of bitcoin and that is the chinese entrepreneurs have some creative responses to the government's crackdown on crypto so every time the government's crackdown on crypto the headlines read and of course no pointers will say ha ha big point is dead you guys are going to die because the government's going to get you i told you jim rickards says it's all the time it's like the governments after you and they're going to shut you down well you know there's no bigger government no bigger surveillance state than the chinese government and what they show and this article is that all these decentralized exchanges are popping up all sorts of ways to get around government censorship of the block ch

and says it will not cooperate with new york attorney general request for information so we have jesse powell telling the new york attending attorney general go away we left new york and this was a good this actually proved to be a good idea because now all these other companies that. allow customers from new york are subject to the bit license. we have another headline here max regarding censorship resistance of bitcoin and that is the chinese entrepreneurs have some creative responses to the government's crackdown on crypto so every time the government's crackdown on crypto the headlines read and of course no pointers will say ha ha big points dead you guys are going to die because the government's going to get you i told you jim rickards says it's all the time it's like the governments after you and they're going to shut you down well you know there's no bigger government no bigger surveillance state than the chinese government and what they show and this article is that all these decentralized exchanges are popping up all sorts of ways to get around government censorship of the block chai

and says it will not cooperate with new york attorney general request for information so we have jesse powell telling the new york attended attorney general you know go away we left new york and this was a good this actually proved to be a good idea because now all these other companies that. allow customers from new york are subject to the bit license. we have another headline here max regarding censorship resistance of bitcoin and that is the chinese entrepreneurs have some creative responses to the government's crackdown on crypto so every time the government's crackdown on crypto the headlines read and of course no pointers will say ha ha dead you guys are going to die because the government's going to get you i told you jim rickards says it's all the time it's like the governments after you and they're going to shut you down well you know there's no bigger government no bigger surveillance state than the chinese government and what they show and this article is that all these decentralized exchanges are popping up all sorts of ways to get around government censorship of the block chain i

to happen again i think it might and it certainly created quite the explosion of response from jesse powell who is the co-founder and c.e.o. of the crack in exchange but you know anyone who's been in the exchange space within the regulatory space like you and i we've seen these questionnaires before they're not that big of a deal they're a lot less scary than you think and the reaction from some of the other exchanges it's been a lot more agreeable including the gemini exchange as well as coinbase i think people that haven't been involved in this sort of stuff they see a questionnaire from the government and they freak out people that have been like you have at the international security exchange and nodal exchange. asia have this experience you know put the compliance guy on it get it done when can you get it done all those you have to do what you have to do have to do now and we also saw a coin base being asked by the i.r.s. last year about getting the names of their investors you do have to pay taxes on the profits you made on crypto and we boars iliescu we thank you again for being here

to happen again i think it might and it certainly created quite the explosion of response from jesse powell who is the co-founder and c.e.o. of the crack and exchange but you know anyone who's been in the exchange space with a regulatory space like you and i we've seen these questionnaires before they're not that big of a deal they're a lot less scary than you think and the reaction from some of the other changes it's been a lot more agreeable including the gemini exchange as well as coinbase i think people that haven't been involved in this sort of stuff they see a questionnaire from the government and they freak out people that have been like you have at the international security exchange and nodal exchange to have this experience you know put the compliance guy on it get it done when can you get it done all those you have to do what you have to do have to now and we also saw a coin base being asked by the i.r.s. last year about getting the names of their investors you do have to pay taxes on the profits you made on crypto and we boars only ask if we thank you again for being here apprec

sovereignty and the new enlightenment and also about the censorship resistance because you mention jesse powell and. where's the headline about him max took my glasses sorry i lost his glasses and so we only have one pair of underwear in a. crack and says it will not cooperate with new yorker.

which immediately got my attention so the exchange crack and right crack crack and jesse power jesse powell at the crack and exchange they have told schneiderman in new york to pound sand a basically. they're trying to dig into all the market making that goes on in these exchanges and they wonder how price discovery works on these very sick strangers and so all these exchanges are saying look we're opposed regulatory framework we're kospi our currency framework we're entering a new year and we don't mean the ses.

to happen again i think it might and it certainly created quite the explosion of response from jesse powellho is the co-founder and c.e.o. of the crack and exchange but you know anyone who's been in the exchange space or the regulatory space like you and i we've seen these questionnaires before they're not that big of a deal they're a lot less scary than you think and the reaction from some of the other exchanges it's been a lot more agreeable including the gemini exchange as well as coinbase i think people that haven't been involved in this sort of stuff they see a questionnaire from the government and they freak out people that have been like you have the international security exchange and not all exchanges have this experience you know put the compliance guy on it get it done when can you get it done all those you have to do what you have to do have to now and we also saw a coin base being asked by the i.r.s. last year about getting the names of their investors you do have to pay taxes on the profits you made on crypto and we boars only estie we thank you again for being here appreciate

chairman, you may have seen jesse powell, the ceo of one of the larger currency exchanges from recentlyened regulatory efforts to currency market and inflation to mind control. what do you think of that? i've is the first heard that might control -- not something i have any skill set in. i will have to ask the agency was there of us are practicing that. i'm not aware of it going on right now. is thehe alternative wild west -- that is what he seems to be advocating. >> i don't know about that. i spent 30 years in the private sector. i chose to take on this job. i believe smart relation is good for the marketplace. chris: cftc chairman giancarlo with our own erik schatzker from milken. caroline: plenty more where that comes from. coming up from we get a handle on the markets with paul hamill. he will be live from the milken institute global conference. this is bloomberg. ♪ caroline: live from london, i'm caroline hyde. vonnie: in new york, i am vonnie quinn. this is "bloomberg markets." caroline: the milking institute global conference is in full swing in beverly hills, california. let's

jesse powell at the crack in exchange they have told me to new york to pound sand basically you knowthey're trying to dig into all the market making that goes on in these exchanges and they wonder how price discovery works on these various exchanges and so all these exchanges are saying look we're opposed regulatory framework or oppose the our currency framework we're entering a new year and we don't need the f.c.c. that c.f.d. see any of these regulators guys were taken this thing to another level is based on a whole different valuation model and just to give you some context of you know my history in all this and how i got into it was back in one nine hundred ninety five one nine hundred ninety six i started a company in los angeles called the hollywood stock exchange and we were trading virtual assets with a virtual currency on a virtual exchange and to build that technology which was pretty new at the time i had to invent a technology so i invented a technology called the virtual specialist technology is that has a u.s. patent i think is five nine five zero one seven six is the p