UK regulators are considering regulation of decentralised cryptoassets

The price was around $51,788 per coin, while rivals Ethereum and Dogecoin were trading a total of $3,934 1.04% and 31 cents 4.48% (Nano) per coin, according to Coindesk.

The head of UK s Financial Conduct Authority FCA said on Monday that creating a regulatory regime for decentralized cryptoassets will require careful thought, Reuters reported.

The finance ministry has already consulted publicly on whether some cryptoasset promotions need regulation.

There are no assets or real world cashflows underpinning the price of speculative digital tokens, even the better known ones like Bitcoin, and many cannot even boast a scarcity value, FCA Chairman Charles Randell said in a speech.

We don t know when or how this story will end, but as with any new speculation it may not end well. The company believes that the transaction could be completed by the end of this month, Reuters reported.

The purchase price would cover acquisition and commercial operation of some 33,000 ASIC miners, the report said.