Democrats Push to Block Bitcoin in 401(k) Retirement Plans

Sen. Bernie Sanders and Sen. Elizabeth Warren urge the Labor Department to withdraw a proposed rule that would let 401(k) plans offer cryptocurrencies, arguing it would overturn ERISA’s prudence standard and expose about $14.2 trillion of retirement savings to volatile assets with limited oversight—and citing conflicts of interest due to the Trump family’s crypto ventures. The administration defends the move as expanding worker choice and preserving a prudent process, while critics stress crypto volatility and fraud risks.