The chief of one of the biggest Chinese Bitcoin exchanges has penned a journal seeking regulations for the digital currency sector.
The article, written by Huobi’s CEO Leon Li, has arrived in the wake of growing regulatory uncertainties in the Chinese Bitcoin market, which — ironically and reportedly — hosts more than 80% of the world’s digital currency transactions already. This might be the first time when an industry’s representative has stepped up to speak in favor of Bitcoin regulation, in spite of knowing the China’s strict stand on the digital currency in past.
— Huobi (@huobicom) August 11, 2015
Li, however, aims to change just that — the perspective of the Chinese regulators towards the disruptive payment technologies like Bitcoin. In the article, he tried to introduce the virtual currency technology in the simplest manner, and further illustrated how it is being adopted by the world’s biggest economies, like the US and the EU, to create cheaper and secure payment systems.
Li further reminded how the Chinese Bitcoin industry, whose trading and mining operations are recorded to be