The CEO of BTCC, a major Chinese Bitcoin exchange, has said that he hopes the digital currency gets regulated in order to stabilize the monetary system and slow its volatile swings up and down.
"I think regulation is much needed for this new asset class because otherwise, it'll run amok from society," Lee told CNBC.
In the original white paper, Bitcoin boasted of its decentralized nature and how it was a currency that was under no one's thumb, especially not banks and governments. However, as the digital currency has exploded into the mainstream, picking up huge adoption, Lee believes its longevity and further growth rests in being regulated.
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