Donald Trump · Democrats · Elizabeth Warren · Bitcoin · U.S. · White House · Bitcoin Magazine
The Democrats argue the new rule would flip that standard on its head
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That shift, the lawmakers say, conflicts with decades of legal precedent and exposes the estimated $14.2 trillion sitting in American 401(k) accounts to assets with extreme price swings and limited regulatory oversight.
Key facts
- The family’s crypto portfolio includes World Liberty Financial’s WLFI and USD1 tokens, as well as the official Trump meme coin, which surged past $75 per token at Trump’s January 2025 inauguration
- The letter also cited senior poverty statistics: more than 22.8% of seniors in the United States live in poverty, compared with 5.1% in Denmark, 5.8% in France, and 12.6% in Germany, underscoring
- In a 14-page letter sent Monday to Acting Labor Secretary Keith Sonderling, Sanders (the reporter-VT) and Warren (D-MA) joined House Education and Workforce Committee ranking member Rep
- That shift, the lawmakers say, conflicts with decades of legal precedent and exposes the estimated $14.2 trillion sitting in American 401(k) accounts to assets with extreme price swings and limited
Summary
Bernie Sanders and Elizabeth Warren are urging the U.S. Department of Labor under Donald Trump to withdraw a proposed rule allowing Bitcoin and other cryptocurrencies in retirement accounts. Senators Bernie Sanders and Elizabeth Warren are calling on the Trump administration’s Labor Department to scrap a rule that would open America’s retirement savings accounts to Bitcoin and other cryptocurrencies, a move the lawmakers say puts workers’ financial futures at risk while lining the pockets of President Trump and his family. In a 14-page letter sent Monday to Acting Labor Secretary Keith Sonderling, Sanders (the reporter-VT) and Warren (D-MA) joined House Education and Workforce Committee ranking member Rep. The rule would give 401(k) plan fiduciaries cover to offer volatile assets, including cryptocurrency, private equity, and private credit, so long as fiduciaries can demonstrate they weighed relevant factors before offering access. “The proposed rule is harmful to American workers and counter to statute, Congressional intent, existing regulations, and case law,” the letter reads.