Fake Anti-Crypto Policy Letter Misleads Social Media Users; Elizabeth Warren Remains Silent
Summary:
A purported letter from Senator Elizabeth Warren proposing a 1% wealth tax on crypto assets over $500,000, addressed to President Joe Biden, sparked outrage within the crypto community on Twitter. However, the letter was exposed as a fake, despite some crypto users continuing to believe in its validity. No such letter was present on Senator Warren's official website. Warren, a notable anti-crypto voice in Congress, faces Republican and crypto attorney John Deaton in the upcoming re-election.
A purported policy against cryptocurrencies, allegedly proposed by Senator Elizabeth Warren of Massachusetts, appears to have misled numerous social media users. The catch is that the letter outlining the supposed proposal was in fact fraudulent. On April 21, the crypto-focused Twitter community was abuzz with seeming outrage over a letter seemingly written by Senator Warren and addressed to President Joe Biden of the United States. The letter, which contained a spelling error in the senator's name, suggested the imposition of a wealth tax of 1% on cryptocurrency assets exceeding the sum of $500,000. The source of the letter was Dennis Porter.
The letter urged President Biden to throw his support behind any proposed crypto-related laws by Senator Warren, arguing that such regulations could help address problems in the U.S. financial system. Despite the exposure of clear discrepancies between the alleged letter and reality by social media users, some members of the crypto community appeared to be unconvinced of the falsehood of the document. Twitter user DonCryptoDraper remarked, "Could be [false], but she's the kind who would propose such a tax."
No such letter was found on Senator Warren's official website at the time of this report. Inquiries regarding the same were directed to her office by Cointelegraph, which has yet to receive a response.
It's worth noting that Senator Warren is recognized as one of the most vocal critics of cryptocurrencies in Congress, frequently linking digital assets to unlawful activities, including terror financing. Her Digital Asset Anti-Money Laundering Act has been criticized by multiple cryptocurrency proponents and legislators, who deemed it ineffectual in curbing illegal financial activities.
The senator is expected to contend against Republican contender and cryptocurrency attorney John Deaton in her bid for reelection in November. Deaton has managed to raise approximately $1.36 million for his electoral campaign (including $1 million of his own money) in the year's first quarter, against Warren's $1.09 million. Additionally, Deaton has expressed his interest in serving as "amicus curiae" or friend of the court, in the pending civil lawsuit between Coinbase and the U.S. Securities and Exchange Commission.
Published At
4/22/2024 10:05:00 PM
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