Sanders, Warren Urge Labor Department to Scrap Crypto 401(k) Rule on June 1

According to The Block, on June 1, Senators Bernie Sanders and Elizabeth Warren, along with Rep. Robert Scott, pressed the Department of Labor to reject a proposed rule allowing cryptocurrencies and other alternative assets in 401(k) retirement plans. In a letter to Acting Labor Secretary Keith Sonderling, the lawmakers argued the rule would strip investor protections and expose retirement savers to excessive risk from volatile and fraud-prone assets. They cited FBI data showing crypto-linked fraud losses reached over $11 billion in 2025, and raised concerns about conflicts of interest related to the Trump family's cryptocurrency holdings.
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