Numerous social media users were deceived by a counterfeit anti-crypto proposition put forth by Massachusetts Senator Elizabeth Warren. The predicament arose when a letter, containing the proposal, circulated on April 21, causing an uproar among Crypto Twitter. The letter, which misspelled the senator’s name, suggested imposing a 1% wealth tax on crypto assets exceeding $500,000. The intention behind the letter was to urge President Joe Biden to support crypto-related legislation as a means of addressing issues within the U.S. financial system. Despite several individuals on social media pointing out inconsistencies between the letter and reality, certain crypto users seemed unwilling to accept the truth. At the time of publication, no such letter was present on Senator Warren’s official website. Cointelegraph attempted to contact her office for a statement but received no response. Senator Warren is known for being one of the more prominent anti-crypto voices in Congress, frequently associating digital assets with illicit activities, such as terrorism financing. One of her proposed bills, the Digital Asset Anti-Money Laundering Act, has faced criticism from numerous crypto advocates and lawmakers for its ineffectiveness in combating illicit financing. In the upcoming November election, Warren is expected to go head-to-head against Republican candidate and crypto lawyer John Deaton. Deaton has already raised approximately $1.36 million for his campaign, with $1 million coming from his own funds, surpassing Warren’s $1.09 million. Additionally, Deaton has filed a request to be a friend of the court in Coinbase’s civil lawsuit against the U.S. Securities and Exchange Commission.
Crypto enthusiasts deceived by counterfeit letter purportedly authored by Elizabeth Warren suggesting taxation on cryptocurrencies