A fake letter by Massachusetts Senator Elizabeth Warren suggesting a 1% tax on crypto holdings exceeding $500,000 has fooled numerous crypto users.
The proposed anti-crypto policy appeared to deceive many social media users. An issue arises due to the forgery of the proposal’s enclosed letter.
A presumably authentic letter from Senator Warren to U.S. President Joe Biden sparked widespread dismay on Crypto Twitter on April 21. A letter proposing a 1% wealth tax on cryptocurrency holdings exceeding $500,000 misspelled the senator’s first name.
The letter urged President Biden to support Senator Warren’s crypto-related legislation to address problems in the U.S. financial system. Despite numerous social media users highlighting inconsistencies between the letter and reality, certain cryptocurrency users appeared resistant to accepting the truth.
“Could be [not true] but she’s the type to ask that,” said DonCryptoDraper.
The senator is among the most ardent opponents of cryptocurrencies in Congress, frequently linking digital assets to illegal activities such as terrorism financing.
Numerous crypto advocates and legislators have criticized one of her proposed laws, the Digital Asset Anti-Money Laundering Act, because it is ineffective at preventing illegal funding.
In November, Warren will presumably face off against John Deaton, a Republican candidate and crypto attorney, for re-election. During the first quarter of 2024, he amassed approximately $1.36 million for his campaign, including $1 million from personal funds, in contrast to Warren’s $1.09 million.
Deaton has additionally submitted a petition to the court seeking friendliness about the civil litigation between Coinbase and the U.S. Securities and Exchange Commission.
As of publication, Senator Warren’s website did not indicate such a letter.
