Monday, September 15, 2025

Does Elizabeth Warren Want a 1% Wealth Tax on Crypto?

News about a 1% wealth tax on crypto is going around after a crypto influencer with over 600,000 X followers posted an alleged letter from US Senator Elizabeth Warren, a Democrat from Massachusetts, to President Joe Biden to “introduce the Cryptocurrency Reporting and Wealth Tax.”

Eljaboom, the poster, highlighted the part about how the supposed legislation will impose a 1% wealth tax on holdings worth over $500,000. The purported legislation would also require holders of cryptocurrency worth over $1,000 to report it to the Internal Revenue Service (IRS). 

The letter, however, is fake. X users, via the platform’s Context feature and as replies to the post, noted that the senator’s name was spelled wrong. Her title and the president’s name are written differently compared to this legitimate letter from 2023.

Also read: Bitcoin Halving: Breaking Down Profitability For Bitcoin Miners

Warren did introduce a bill to crack down on crypto in 2023. Called the Digital Asset Anti-Money Laundering Act of 2023, it targets the misuse of cryptocurrencies in activities such as money laundering, drug trafficking, sanctions evasion, and supporting terrorist groups.


Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

New Found Gold: The Strategic Maritime Resources Purchase

Amex Exploration: Revised Perron PEA Has INSANE Economics

Aris Mining: The Multi Billion Dollar Soto Norte PFS

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

Bubba Horwitz: Crypto Is The Currency Of The Libertarian And Free Markets – The Daily Dive

For the final episode of The Daily Dive for the trading week, we sit down...

Friday, May 28, 2021, 01:30:00 PM

Bitcoin Has Plummeted 40% in Two Months, But It Still May Be Too Early to Dive in for a Reflex Rally

Bitcoin continues to fall sharply and is testing the US$40,000 level that proved to be...

Saturday, January 8, 2022, 09:00:00 AM

First US Bitcoin ETF to Make NYSE Debut on Tuesday

The price of bitcoin was sent higher on Monday, after the SEC officially greenlighted the...

Monday, October 18, 2021, 04:58:00 PM

Bitcoin Falls as Turkey Bans Cryptocurrency Payments

Bitcoin suffered a slight decline following its skyrocketing rally over the past week, after the...

Saturday, April 17, 2021, 11:18:00 AM

Fidelity Investments to Bring Bitcoin ETF to Canada

It appears that Canada will soon be getting yet another bitcoin ETF, as Fidelity Investments...

Thursday, December 2, 2021, 10:18:00 AM