Elizabeth Warren · White House · Federal Reserve (FED) · The Block
Bernie Sanders, Elizabeth Warren push Labor Dept. to scrap proposed rule that brings crypto into 401(k) plans
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Bernie Sanders and Elizabeth Warren are pressing the Department of Labor to strike down a proposed rule that would open up 401(k) retirement plans to alternative assets, including cryptocurrencies.
Key facts
- Crypto scams are also apparent, the lawmakers said, citing a Federal Bureau of Investigation report that found that crypto-linked fraud losses reached a record high of over $11 billion in 2025
- In a letter dated June 1 to Acting Secretary of Labor Keith Sonderling, the senators and top Democrat of the House Committee on Education and Workforce, Rep
- Bernie Sanders and Elizabeth Warren are pressing the Department of Labor to strike down a proposed rule that would open up 401(k) retirement plans to alternative assets, including cryptocurrencies
- In March, the Department of Labor unveiled the proposed rule outlining steps 401(k) plan managers should take when considering incorporating alternative assets into their investment portfolios
Summary
In a letter dated June 1 to Acting Secretary of Labor Keith Sonderling, the senators and top Democrat of the House Committee on Education and Workforce, Rep. "The proposed rule would establish a so-called safe harbor for fiduciaries who offer alternative investments in retirement plans," they said in the letter. In March, the Department of Labor unveiled the proposed rule outlining steps 401(k) plan managers should take when considering incorporating alternative assets into their investment portfolios, including private equity, real estate, and digital assets. Crypto scams are also apparent, the lawmakers said, citing a Federal Bureau of Investigation report that found that crypto-linked fraud losses reached a record high of over $11 billion in 2025.