From Justice Democrats <[email protected]>
Subject 19 Democrats joined Republicans to deregulate crypto
Date March 13, 2025 7:40 PM
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[1]Justice Democrats





John,

Some Senate Democrats, including Minority Leader Chuck Schumer, recently
joined Republicans in passing a bill that’s a massive giveaway to the
cryptocurrency industry.

This bill would hugely deregulate crypto – repealing a rule that required
Crypto firms to report customer transactions to the IRS and was estimated
to bring nearly $4 billion in revenue to the government from Crypto
corporations. One tax expert even noted: “It would encourage more of the
[Crypto] industry to move into the shadows, making it more difficult to
counter crimes ranging from tax evasion to fentanyl trafficking to
terrorist financing.”.

Simply put, when enacted, it will open the floodgates for even more
widespread fraud and even less oversight to boost corporate profits and
make crypto billionaires even richer.

[ [link removed] ]A screenshot of a post on X from Justice Democrats reposting
@JonathanCohn. The original post says: 'Missed this yesterday. 19
Democrats (including Chuck Schumer.....) joined Republicans in voting to
repeal a Biden rule requiring cryptocurrency brokers to adhere to the same
tax reporting rules as stock brokers.' Justice Democrats repost says:
'Crypto Super PACs spent $131 million in Congressional elections last
year. Looks like that buys you at least 70 bipartisan Senate votes in
favor of tax evasion & corporate fraud.'

After crypto Super PACs spent $131 million in Congressional elections last
year, they were able to buy the votes of 70 senators, including 19
Democrats, in favor of this pro-tax evasion bill. Democrats cannot be the
party of working people while the establishment continues to prioritize
the billionaire class.

The Crypto industry is an existential threat to our economy and democracy.

We must primary these out-of-touch Democrats with candidates who will put
the needs of struggling Americans first. Our leaders must prioritize
things like Medicare for All, housing as a human right, and raising taxes
on billionaires & corporations instead of stripping away regulations that
prevent the rich from ripping us off.

Justice Democrats is gearing up to support those candidates who will take
on status quo Democrats in 2026 and the Crypto industry backing them, but
we need your help to build winning campaigns.

[ [link removed] ]Can you pitch in $5 to Justice Democrats today to
support our 2026 candidate recruitment efforts? We won’t be able to oust
corporate Democrats next year without building a strong foundation today.



[ [link removed] ]Contribute $5



In solidarity,

Justice Democrats




 




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