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Top Democrats Seek Reversal of Labor Crypto and Private Equity 401k Proposal
Top Democrats on three congressional committees are pressing the US Labor Department to scrap a proposal that would allow digital assets and other alternative assets in 401(k) retirement plans. Senator Bernie Sanders, Senator Elizabeth Warren and Representative Bobby Scott made the request in a Tuesday letter to acting Labor Secretary Keith Sonderling. The lawmakers said the Labor Department proposal could open employer-sponsored retirement accounts to cryptocurrency, private equity, private credit and similar investment products. They argued that retirement savers could face greater exposure to assets that are often ... (full story)
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