US lawmakers push back on Labor Department plans to include crypto in 401(k)s
Top Democrats Bernie Sanders, Elizabeth Warren, and Bobby Scott urged the Labor Department to stop a proposal that would let 401(k) plans include digital assets and other “alternative assets” such as private equity and private credit. They argued the move would expose retirement savings to highly volatile, lightly regulated assets and increase the risk of fraud, especially because many crypto holdings lack the investor protections available to public securities. The lawmakers also said crypto-fraud enforcement has been weakened under the current administration and questioned whether the policy could benefit Trump and his family, citing World Liberty Financial. The proposal followed a Trump executive order directing agencies to broaden access to alternative assets in retirement plans.
