“Fiat is the preferred currency for financial crimes,” said a Community Note providing context to Elizabeth Warren’s Jan. 21 tweet on crypto and sanctions.
Social media platform X (formerly Twitter) has added a note providing context to a tweet from Senator Elizabeth Warren regarding cryptocurrency use in financial crimes.
Following Senator Warren’s Jan. 21 post citing a United States Government Accountability Office report in which the lawmaker claimed “rogue nations are using crypto to dodge sanctions,” X contributors added a Community Note. According to the note provided with “context they thought people might want to know,” a U.S. Treasury report from February 2022 stated, “Fiat is the preferred currency for financial crimes.”
The seeming rebuke of Senator Warren’s claims on the social media platform was a rare occurrence amid many anti-crypto posts during her time in office. On both X and in person at congressional hearings, the Massachusetts senator has often suggested that digital assets are overwhelmingly used for illicit purposes.
