Crypto Won’t Solve Financial Inequalities, Warren Says
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The Street
The Street
By Ellen Chang Bitcoin is owned mostly by those who are wealthy and in higher tax brackets. The cryptocurrency market will not help increase financial equality among Americans, said Massachusetts Democratic Senator Elizabeth Warren on Tuesday. In her criticism, she noted that bitcoin is owned mostly by those who are wealthy and in higher tax brackets compared to people who use the U.S. dollar. “We need real solutions to make the financial system work for everyone, not just the wealthy,†Warren wrote in a tweet. A study conducted by the National Bureau of Economic Research revealed that the top…