Maxine Waters urges Labor Department to withdraw crypto-in-401(k) proposal
By
Jesse Hamilton
Summary
Representative Maxine Waters, the ranking Democrat on the House Financial Services Committee who may reclaim its chairmanship after the November elections, is urging the Department of Labor to withdraw a proposed rule that would encourage 401(k) retirement plan managers to offer alternative investments, including cryptocurrency. The proposal was introduced in March under the Trump administration.
Source
Twitter / XMaxine Waters urges Labor Department to withdraw crypto-in-401(k) proposalcoindesk.comKey quotes
· 3 pulledU.S. Representative Maxine Waters, a key Democrat, opposes the Labor Department's proposal for crypto in retirement accounts.
Maxine Waters may soon return to the helm of the House Financial Services Committee if Democrats perform as expected in the November elections.
She's asking that the Department of Labor back away from a proposal that would encourage the managers of 401(k) retirement plans to offer alternative investments, including cryptocurrency.
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