401k
US Lawmaker Introduces Bill To Protect Bitcoin (BTC) 401(k) Investments
A Senator from Alabama is introducing a new bill that could potentially stifle the government from restricting top digital asset Bitcoin (BTC) and other cryptocurrencies as investment options for 401(k) retirement plans. Republican Senator Tommy Tuberville is unveiling the Financial Freedom Act of 2022, which would counter attempts by the U.S. Department of Labor (DOL) […]
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U.S. House Introduces Bill to Allow Bitcoin in 401(k)s
Two US Senators Pen Letter to Fidelity CEO Detailing Concerns With Proposed Bitcoin 401(k) Retirement Plans
Two members of the US Senate are writing a letter to financial services giant Fidelity presenting issues with the firm’s new plans to offer Bitcoin (BTC) as an option for 401(k) retirement plans. In a letter penned to Fidelity CEO Abigail Johnson, Senators Elizabeth Warren of Massachusetts and Tina Smith of Minnesota express doubts about […]
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U.S. Department of Labor Expresses ‘Grave Concerns’ Over Fidelity’s Proposed Bitcoin 401(k) Plans: Report
The U.S. Department of Labor (DOL) is reportedly having “grave concerns” about Fidelity Investments’ recent decision to launch Bitcoin (BTC) 401(k) plans. In a new Wall Street Journal (WSJ) interview, Acting Assistant Secretary of the DOL’s Employee Benefits Security Administration (EBSA) Ali Khawar acknowledges crypto has intriguing use cases but says it needs “maturing” before […]
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Fidelity’s Bitcoin 401(k) Offering Risks Retirement Security of Americans, Says Labor Department Official
The U.S. Labor Department has “grave concerns” about Fidelity Investments allowing investors to put bitcoin into their 401(k) accounts for retirement savings. An official of the Labor Department said it risks the retirement security of Americans, stressing that “cryptocurrencies can present serious risks to retirement savings.” U.S. Labor Department’s ‘Grave Concerns’ Over Fidelity’s Bitcoin 401(k) […]Fidelity’s New 401(k) Product Lets Workers Add Up to 20% in Bitcoin to Their Retirement Plans
The multinational financial services corporation based in Boston, Fidelity Investments, has revealed the firm is allowing people to add bitcoin into their 401(k) plan as long as the employer allows it. According to Fidelity’s head of workplace retirement offerings, the company has seen “growing interest from plan sponsors” that wanted to add bitcoin to retirement […]Fidelity to Allow Bitcoin in 401(k) Retirement Accounts
Crypto Investments Carry ‘Significant Risks of Fraud, Theft, and Loss,’ Says U.S. Department of Labor
The U.S. Department of Labor (DOL) is warning investment firms to “exercise extreme care” before adding crypto to their retirement plans. In a new statement, the department says it has serious concerns about fiduciaries who expose 401(k) participants to crypto assets. “These investments present significant risks and challenges to participants’ retirement accounts, including significant risks […]
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Miami Mayor Francis Suarez Plans to Take a Fraction of His 401k in Bitcoin
During the first week of November, the reelected Miami mayor Francis Suarez explained that he would receive part of his salary in bitcoin via the payment processor Strike. A month later, speaking at Real Vision’s Takeover event in Las Vegas, Suarez revealed he plans to take part of his 401k in bitcoin as well. Pro-Bitcoin […]