now into poor me as we speak but as it begins to rise china has the crypto in its crosshairs taylor lettermen of simpler trading joins us to delve into the do mean details for the cryptocurrency and as we go to break here are the numbers of the closing bell. after the previous stage of my career was over everyone wondered what i was going to do next the multiple different clubs on one hand it is logical to sort of go from fields where everything is familiar on the other i wanted a new challenge and the fresh perspective i'm used to surprise. us all or not. i'm going to talk about football not for you or else you think i was going to do. by the way what is it that flying here. relies on competition so competition means that. winning ideas are winning companies to survive if you don't you don't survive just survival of the fittest as competition if you have a corrupt subtle bank who's willing to finance dodgy deals then the crowds. good company a lot of bad. competition and you end up with. a. i mean more to get in is an outstanding person because he took on the most powerful agency in this cou

though that's not really the same thing as banning bitcoin entirely joining me now to discuss is taylor lettermen a crypto currency analyst with simpler trading taylor thanks for being here. thanks for having me so in twenty seventeen china bankrupt a currency exchanges that serve local people that cause the plunge in prices but obviously that's a very different situation than banning big coin mining even so if this proposal was passed would you expect to see big going to begin. yet i would say somewhat hopeful that but even though the proposal is being proposed that currently i'm being consulted on we've actually seen between go higher today's wait to see as we approach at the may seventh is the deadline for the consultations around this proposal but again this is not even the first time we've seen proposals to been mining in china and we saw the same thing last year last january come out and this was kind of pushed by the kind of central banks so that is something to consider when we see this is nothing has been done in twenty seventeen twenty eighteen but now this new proposal by the planning