2024

United

Biden

April

Many social media users appeared to be fooled by an anti-crypto policy proposed by Massachusetts Senator Elizabeth Warren. The problem is the letter containing the proposal was fake.
On April 21, many on Crypto Twitter <a href="https://twitter.com/BitcoinEnergyS/status/1782263564184486095" target="_blank" rel="noopener noreferrer nofollow">erupted</a> in dismay at a seemingly real letter from Senator Warren to United States President Joe Biden. The letter — which misspelled the senator’s first name — proposed a 1% wealth tax on crypto holdings exceeding $500,000.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-04/d013581d-3576-4172-bb79-2aace5f9e580.png">
 <figcaption style="text-align: center;">Source: <a href="https://twitter.com/Dennis_Porter_/status/1782375389928497172" target="_blank" rel="noopener noreferrer nofollow">Dennis Porter</a>
 </figcaption>
</figure>
The letter called for President Biden to support crypto-related legislation from Senator Warren as part of efforts to address issues in the U.S. financial system. Even after many on social media pointed out discrepancies between the letter and reality, some crypto users seemed to refuse to acknowledge the truth.
“Could be [not true] but she’s the type to ask that,” <a href="https://twitter.com/DonCryptoDraper/status/1782400244619112537" target="_blank" rel="noopener noreferrer nofollow">said</a> DonCryptoDraper.
No such letter appeared 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.
Related: <a href="https://cointelegraph.com/news/elizabeth-warren-supports-enhanced-us-sanction-options-stablecoins" rel="noopener noreferrer nofollow">Elizabeth Warren supports enhanced US sanction options for stablecoins</a>
The Massachusetts senator is one of the <a href="https://cointelegraph.com/news/elizabeth-warren-crypto-bill-election-us" rel="noopener noreferrer nofollow">more vocal anti-crypto voices</a> in Congress, often associating digital assets with illicit activities, including the financing of terrorism. One of her proposed bills, the Digital Asset Anti-Money Laundering Act, has been <a href="https://cointelegraph.com/news/crypto-bill-terrorist-financing-congress" rel="noopener noreferrer nofollow">critized by many crypto advocates</a> and lawmakers for being ineffective in stopping illicit financing.
Warren is up for reelection in November and will likely face off against Republican candidate and crypto lawyer John Deaton. He&nbsp;<a href="https://cointelegraph.com/news/john-deaton-senate-bid-q1-donors-outraise-elizabeth-warren" rel="noopener noreferrer nofollow">raised roughly $1.36 million</a> for his campaign — $1 million from his own pockets — in the first quarter of 2024 compared to Warren’s $1.09 million. Deaton has also <a href="https://cointelegraph.com/news/pro-xrp-lawyer-john-deaton-amicus-brief-crypto-exchange-coinbase" rel="noopener noreferrer nofollow">requested to serve</a> as a friend of the court in Coinbase’s civil lawsuit with the U.S. Securities and Exchange Commission.
Magazine: <a href="https://cointelegraph.com/magazine/opinion-republican-crypto-maxis-democrat-anti-crypto-army-mchenry-warren/" rel="noopener noreferrer nofollow">Opinion: GOP crypto maxis almost as bad as Dems’ ‘anti-crypto army’</a>

Crypto users fooled by fake Elizabeth Warren letter proposing crypto tax

Cointelegraph

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