U.S. House Democrat, who may soon run key committee, condemns crypto in 401(k)s

U.S. House Democrat, who may soon run key committee, condemns crypto in 401(k)s

Maxine Waters, the ranking Democrat on House Financial Services, asked the chief of the Department of Labor to withdraw its proposal on alternative assets.

Maxine Waters Urges Labor Department to Drop Trump-Era 401(k) Crypto Investment Proposal

U.S. Representative Maxine Waters is urging the Department of Labor to withdraw a proposed rule that would make it easier for 401(k) retirement plans to include alternative investments such as cryptocurrency, private equity, private credit, real estate, and commodities. The proposal, introduced in March, follows an executive order issued by President Donald Trump aimed at expanding investment choices within employer-sponsored retirement accounts…