Cryptocurrency exchange CryptoShares Shares are rising to record highs
Posted On August 4, 2021
Cryptocurrencies are soaring again after weeks of relative weakness.
CryptoShares, the biggest and most traded crypto-asset in the world, has risen to its highest level in nearly two months, with investors buying up the shares as the price continues to rally.
CryptoStocks were trading at $14.25 on Wednesday, up from $14 a year ago and up by more than 20 percent since June.
That is still a steep premium to its price a year earlier, when the price was around $11.25.
Crypto Stocks have gained $13.3 billion this year, according to FactSet.
Crypto Shares were worth $6.5 billion in the first half of 2017.
The cryptocurrency’s rise has come despite a severe economic downturn and government crackdown on money laundering.
The U.S. Treasury Department has designated crypto-assets as money laundering targets and warned that those who use them to buy drugs and other illegal goods can face prison time.
The government also plans to impose stiffer penalties on people involved in illegal money transfers.
On Tuesday, the U.K. government introduced legislation that will make it easier for people to evade taxes by using cryptocurrency.
“Crypto is a wonderful and powerful tool to be used for legitimate commerce,” Prime Minister Theresa May told the British parliament on Wednesday.
“It allows for transactions that are transparent, secure and easy to understand.”