‘China Had the Power’: Gov’t Advisor Urges Not to Abandon Bitcoin

Bitcoin entrepreneur and Chinese government advisor Wo Weidong is urging China to develop “an appropriate” Bitcoin and Blockchain regulatory strategy to promote innovation. Wo Weidong, member of the Chinese People’s Political Consultative Conference and Chairman of the board of the Huiyin Group, has called out for “an appropriate” Bitcoin and blockchain regulatory strategy, according to online news service cnLedger.

http://bitcoinist.com/china-govt-advisor-bitcoin-regulate/

Regulation can help the industry Bitcoin gain legitimacy in the eyes of the community strategy appropriate regulation, while controlling risk, can actually encourage innovation, drive innovation, and innovation leads, on the one hand, but also can set barriers to entry for startups as previously seen with the New York BitLicense.