Mars Finance reports that, according to The Block, U.S. Senators Bernie Sanders and Elizabeth Warren, along with Representative Robert Scott, have sent a letter to the Department of Labor requesting the withdrawal of a proposed rule that would allow 401(k) retirement plans to include alternative assets such as cryptocurrencies. In the letter, the lawmakers said the proposed rule would create a so-called safe harbor for trustees who offer alternative investments, which would deprive retirement savers of long-standing investor protections and encourage the use of riskier, more complex, and more expensive investments. The Department of Labor released the proposed rule in March, providing guidance for 401(k) plan administrators on how to add alternative assets—including private equity, real estate, and digital assets—into investment portfolios. The lawmakers expressed concerns about the volatility of digital assets and cited a Federal Bureau of Investigation report stating that in 2025, crypto-related fraud losses reached a record high of more than $11 billion. They also pointed to alleged conflicts of interest involving the Trump family in the crypto space, saying the Department of Labor’s proposed rule could increase the president’s interests at the expense of ordinary workers and retirees.

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CandlestickChartsUnderThe

· 06-04 17:47

To put it plainly, it’s still elitism—believing that the working class doesn’t deserve to touch high-risk assets and should only buy the products they specify.

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MomentumWalker

· 06-03 07:12

If the rules are revoked, what happens to those who have already made arrangements? Constantly changing policies hurt ordinary investors the most.

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TidalShellReflection

· 06-03 02:16

FBI data is indeed frightening, but it’s not right to dismiss encryption entirely; the traditional markets have no fraud either, right?

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QuantWinter

· 06-03 02:12

Sanders and his group are just afraid the people will change their circumstances—so what if you add an option to the 401(k)? Don’t adults assess risks for themselves?

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0XsundayCook

· 06-03 02:04

Conflicts of interest definitely exist, but why does no one mention the conflicts of interest between the SEC and Wall Street? This double standard.

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NonceCollector

· 06-03 02:04

Fraud reaches a record high in 2025, and traditional telephone scams aren’t small either—don’t overreact and ruin something good just because of a little trouble.

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OwlAuthorizationMonitor

· 06-03 02:04

Warren’s anti-encryption has become an obsession—every time something goes wrong, she’s the first to jump out. But diversifying pension allocation is the trend of the times.

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PaperfoldDao

· 06-03 02:04

The Safe Harbor rules sound like protection, but in reality, they’re welding the door shut—ordinary people don’t even have the option to choose.

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Two U.S. Senators push the Department of Labor to revoke the proposed rule to include cryptocurrencies in 401(k) plans

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