<p>Congressional Democrats are opposing a proposal from the US Department of Labor that would allow 401(k) investments to include cryptocurrency, private credit, and private equity assets. They argue that this change would expose workers to riskier and more complex investments.</p><p>In a letter shared with the Guardian, Senator Bernie Sanders, Senator Elizabeth Warren, and House education and workforce committee ranking member Bobby Scott of Virginia stated that the rule could expose an estimated $14.2 trillion of 401(k) retirement savings to volatile assets and may not withstand a legal challenge.</p>
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Democrats oppose proposal to include cryptocurrency in 401(k) plans
Congressional Democrats are opposing a US Department of Labor proposal to allow cryptocurrency in 401(k) plans, citing concerns over increased financial risk for workers. The proposal could expose approximately $14.2 trillion in retirement savings to volatile investments.
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Bernie Sanders
Elizabeth Warren
Bobby Scott
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Democrats oppose Trump officials’ effort to include crypto in 401(k) plans
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Democrats oppose proposal to include cryptocurrency in 401(k) plans
