Senior Democratic Congressman Calls for Withdrawal of Cryptocurrency Regulations in 401k Retirement Plans

Letter Requesting Withdrawal Sent

On the 26th, Representative Maxine Waters, the leading minority member of the U.S. House Financial Services Committee, sent a letter to Keith Sonderling, the acting commissioner of the U.S. Department of Labor (DOL), requesting the immediate withdrawal of proposed rules that would permit investments in alternative assets such as cryptocurrencies in 401k retirement accounts.

The 401k plan is a defined contribution pension scheme in the U.S., with approximately 90 million Americans enrolled. Both employers and employees contribute funds that are invested in stocks...