Crypto users duped by fake Elizabeth Warren letter offering crypto tax
Many social media users seemed fooled by Massachusetts Senator Elizabeth Warren's proposed anti-crypto policy. The problem was that the letter containing the proposal was fake.
On April 21, many on Crypto Twitter were outraged by a seemingly genuine letter from Senator Warren to US President Joe Biden. The letter — which misspelled the senator's first name — proposed a 1% wealth tax on crypto holdings above $500,000.
The letter asks President Biden to co-sponsor crypto-related legislation from Senator Warren as part of efforts to address issues in the US financial system. Even after many on social media pointed out the difference between the letter and the reality, some crypto users seem reluctant to accept the truth.
“could be [not true] But she's the type to question her,” said Don Krypto Draper.
Such a letter did not appear on Senator Warren's website at the time of publication. Cointelegraph reached out to her office for comment but did not receive a response at the time of publication.
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The Massachusetts senator is one of the most anti-crypto voices in Congress, often associating digital assets with illegal activities, including financing terrorism. One of her bills, the Digital Asset Anti-Money Laundering Act, has been criticized by many crypto advocates and lawmakers for not being effective in stopping illegal financing.
Warren is up for re-election in November and could face Republican candidate and crypto advocate John Deaton. He raised about $1.36 million for his campaign — $1 million out of pocket — in the first quarter of 2024, compared to Warren's $1.09 million. Deaton has also been asked to serve as a court friend in Coinbase's civil suit with the US Securities and Exchange Commission.
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