With China (unofficially) authorizing Bitcoin and Deloitte saying it's too soon for bitcoin to be regulated, what are your thoughts?

Can bitcoin be regulated? Should bitcoin be regulated? If so what should be done to regulate bitcoin?

For reference:

http://cointelegraph.com/news/115435/china-unofficially-authorizes-bitc…

http://www.coindesk.com/deloitte-its-too-soon-for-bitcoin-to-be-regulat…