Has a 1% tax on Bitcoin holders been proposed by a U.S. Senator?
In the morning of Monday, April 22, Dennis Porter, the CEO, and co-founder of the Satoshi Action Fund, caused a stir on X as he shared a supposed letter sent by Senator Elizabeth Warren to President Biden. The letter detailed a proposed piece of legislation titled the ‘ Cryptocurrency Reporting and Wealth Tax Act ’ and urged its implementation. In the document, Senator Warren highlighted that digital assets present both opportunities and challenges but focused on the problems of taxing digital assets and enforcing existent rules in the crypto market. Picks for you 3 must-buy cryptocurrencies under $1 for this week 46 mins ago Losing faith in fiat? Central banks' gold accumulation hits historic level 1 hour ago Cronos unveils its Spring Odyssey campaign powered by Galxe 3 hours ago Google Gemini predicts Gold price for the end of 2024 3 hours ago As a result, the proposed act would introduce requirements for any individual or entity holdin...