Democrats Push to Block Bitcoin in 401(k) Retirement Plans
TL;DR
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.
- Democrats Sanders And Warren Push Labor Department To Abandon Bitcoin 401(k) Rule Bitcoin Magazine
- Democrats oppose Trump officials’ effort to include crypto in 401(k) plans The Guardian
- US fund management firms back 401(k) alternative assets proposal, but others worry about risks Reuters
- Top Democrats rip proposal allowing digital assets in 401(k) plans The Hill
- Sens. Bernie Sanders, Elizabeth Warren push Labor Dept. to scrap proposed rule that brings crypto into 401(k) plans The Block
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