Crypto users fooled by fake Elizabeth Warren letter proposing crypto tax

Several social media users seemed deceived by a supposed anti-crypto policy drafted by Massachusetts Senator Elizabeth Warren. However, the letter disseminated was a forgery.

On April 21st, there was an outpouring of disappointment among Crypto Twitter users over what appeared to be a genuine letter from Senator Warren to President Biden. The letter, featuring a mistake in the senator’s name, suggested a 1% tax on crypto holdings worth more than $500,000.

Crypto users fooled by fake Elizabeth Warren letter proposing crypto tax

A letter requested President Biden’s backing for Senator Warren’s crypto-legislation, aiming to resolve problems within the American financial sector. Despite factual inconsistencies brought up on social media, certain cryptocurrency users appeared unwilling to accept the accurate information.

“Could be [not true] but she’s the type to ask that,” said DonCryptoDraper.

At the point when the article was released, no letter bearing that title was found on Senator Warren’s website. We attempted to contact her office through CryptoMoon, yet we didn’t get a reaction before the article’s publication.

Massachusetts Senator is known for her strong opposition to cryptocurrencies in Congress, frequently linking digital assets to illegal activities such as terrorism funding. Her proposed legislation, the Digital Asset Anti-Money Laundering Act, has drawn criticism from crypto supporters and legislators alike for its perceived inability to prevent illicit financing effectively.

In the upcoming November elections, Democratic Senator Elizabeth Warren is set to be re-nominated and may encounter Republican nominee John Deaton, a crypto lawyer, as her opponent. Warren managed to amass approximately $1.36 million for her campaign during the first quarter of 2024, with $1 million coming directly from her funds. In contrast, Deaton raised slightly less at around $1.09 million. An additional point of interest is that Deaton has applied to be an “amicus curiae” or friend of the court in Coinbase’s ongoing legal dispute with the U.S. Securities and Exchange Commission.

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2024-04-22 22:15