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Bernie Sanders, Elizabeth Warren Urge Labor Department to Drop Crypto 401(k) Plan

Regulation & Policy Stocks

2026-06-02 20:02:13

TRUMP-3.57%

WLFI1.88%

MEME-10.6%

BTC-4.98%

According to a letter sent Monday, Senators Bernie Sanders (I-VT) and Elizabeth Warren (D-MA) urged the Labor Department to drop a proposal that would allow fiduciaries to offer crypto and other alternative assets in 401(k) retirement plans. The lawmakers argue the rule weakens fiduciary standards and could expose retirees to greater risk. In the 14-page letter to Acting Labor Secretary Keith Sonderling, they also claimed the policy could benefit President Donald Trump and his family by expanding access to crypto products tied to them, including World Liberty Financial's WLFI and a Trump-branded meme coin. The proposed rule, floated in March, would grant fiduciaries immunity to offer volatile assets like Bitcoin in retirement accounts.

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