US President Joe Biden criticized wealthy crypto investors in a tweet on Tuesday, calling for Congress to cut tax loopholes that benefit them. He contrasted this with the stance of "MAGA House Republicans," who want to cut food safety inspections instead. Biden's proposed Digital Asset Mining Excise tax, which would impose a tax equal to 30% of the cost of electricity used by crypto mining firms, has also been a point of controversy. The White House has cited concerns over the amount of electricity used in crypto mining, and Biden has proposed changing the tax treatment for "wash sales" of digital assets.