US Senator Warren proposes a 1% wealth tax on Bitcoin holdings over $500k

US Senator Elizabeth Warren has submitted a letter to President Joe Biden, suggesting a 'Cryptocurrency Reporting and Wealth Tax Bill' to address challenges and wealth inequality issues caused by crypto assets. The proposal includes a mandatory requirement for individuals, trusts, and entities holding more than $1,000 in cryptocurrency to report to the IRS. Additionally, a 1% wealth tax would be levied on cryptocurrency holdings exceeding $500,000.

GO EAT A BAG Warren