Maxine Waters Urges Labor Department to Scrap Crypto 401(k) Rule in 11-Page Letter
Updated
Updated · CoinDesk · Jun 26
Maxine Waters Urges Labor Department to Scrap Crypto 401(k) Rule in 11-Page Letter
3 articles · Updated · CoinDesk · Jun 26
Summary
An 11-page comment letter from Maxine Waters asks the Labor Department to withdraw its proposed rule opening 401(k) plans to crypto and other alternative assets.
Waters argued digital assets remain unsuitable for retirement savers because the SEC is still building investor protections and the market lacks a comprehensive federal framework.
Her letter said the risk goes beyond token volatility, citing collapsed trading activity, weaker developer engagement and falling user participation across the crypto ecosystem.
The March proposal would carry out Donald Trump’s August 2025 order to broaden retirement-plan access to private equity, private credit, real estate, commodities and digital assets.
Waters could regain the House Financial Services Committee gavel if Democrats win the House in November, giving her more influence over the SEC even though the panel does not control Labor’s 401(k) policy.