{"id":65049,"date":"2022-07-29T10:35:21","date_gmt":"2022-07-29T07:35:21","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=65049"},"modified":"2025-09-06T17:50:21","modified_gmt":"2025-09-06T14:50:21","slug":"u-s-senators-press-fidelity-to-explain-bitcoins-inclusion-in-retirement-plans","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/u-s-senators-press-fidelity-to-explain-bitcoins-inclusion-in-retirement-plans\/","title":{"rendered":"U.S. Senators press Fidelity to explain Bitcoin\u2019s inclusion in retirement plans"},"content":{"rendered":"<p>A group of U.S. Senators wrote a letter to Fidelity Investments CEO Abigail Johnson demanding an explanation for the decision to include Bitcoin as an option in retirement accounts<a href=\\\"https:\/\/ru.wikipedia.org\/wiki\/401(k)\\\"> 401(k).<\/a><\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">U.S. Senators Upset That Fidelity Investments Offers a Bitcoin 401(k) Retirement Option<\/p>\n<p> \u2014 Senators Warren, Durbin, and Smith<a href=\\\"https:\/\/t.co\/9YJMGgwE8g\\\">https:\/\/t.co\/9YJMGgwE8g<\/a> <a href=\\\"https:\/\/t.co\/Fgk9CprOce\\\">pic.twitter.com\/Fgk9CprOce<\/a><\/p>\n<p>\u2014 no bullshit bitcoin (@nobsbitcoin) <a href=\\\"https:\/\/twitter.com\/nobsbitcoin\/status\/1552683866883854337?ref_src=twsrc%5Etfw\\\">July 28, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The management company planned to add such an option <a href=\\\"https:\/\/forklog.news\/fidelity-investments-pozvolit-investoram-nakaplivat-bitkoiny-na-pensionnyh-schetah\/\\\">this summer<\/a>. The option will be available to employees of 23,000 companies that use Fidelity to manage their retirement plans valued at $2.7 trillion.<\/p>\n<p>Democratic lawmakers Dick Durbin, Elizabeth Warren and Tina Smith stressed in the letter that hard-earned money is being invested in a &#8216;cryptocurrency casino&#8217;.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p><em>\u201cThe decision raises enormous concerns. With retirement savings already a problem for so many Americans, why does Fidelity allow [\u2026] to take on the risk of an unproven, highly volatile and unregulated asset such as Bitcoin?\u201d,<\/em> \u2014 they wrote.<\/p>\n<\/blockquote>\n<p>The statement contained no ban or threats.<\/p>\n<p>In a conversation with CoinDesk, company representatives said they would push the product launch to autumn. They emphasised that they are in close dialogue with lawmakers.<\/p>\n<p>In April 2022, Warren<a href=\\\"https:\/\/forklog.news\/senator-elizabet-uorren-sravnila-kriptovalyuty-s-ipotechnym-krizisom-v-ssha\/\\\"> compared<\/a> cryptocurrencies with the United States mortgage crisis.<\/p>\n<p>A month later, Republican Senator Tommy Tuberville of Alabama <a href=\\\"https:\/\/forklog.news\/senator-ssha-predlozhil-zakrepit-pravo-nakaplivat-bitkoiny-na-pensionnyh-schetah\/\\\">introduced<\/a> a bill allowing Americans to accumulate cryptocurrency in 401(k) retirement accounts.<\/p>\n<p>The U.S. Department of Labor previously<a href=\\\"https:\/\/forklog.news\/mintruda-ssha-obespokoila-bitkoin-initsiativa-fidelity-dlya-pensionnyh-schetov\/\\\">  reported<\/a> concerns regarding Fidelity Investments\u2019 initiative.<\/p>\n<p>In 2020, U.S. pension plans offering investment in the first cryptocurrency were launched by <a href=\\\"https:\/\/forklog.io\/amerikanskaya-kompaniya-daim-zapustila-pensionnyj-plan-s-dolej-v-bitkoine\/\\\">DAiM<\/a>, and <a href=\\\"https:\/\/forklog.io\/bitwage-i-gemini-zapustili-pensionnyj-plan-s-vozmozhnostyu-investitsij-v-bitkoin\/\\\">Bitwage with Gemini<\/a>.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news in our <a href=\\\"\/\/telegram.me\/forklog\\\"\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Telegram<\/a> \u2014 crypto news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A group of U.S. Senators wrote a letter to Fidelity Investments CEO Abigail Johnson demanding an explanation for the decision to include Bitcoin as an option in 401(k) retirement accounts.<\/p>\n","protected":false},"author":1,"featured_media":65050,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1248,36],"class_list":["post-65049","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-fidelity-investments","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/65049","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=65049"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/65049\/revisions"}],"predecessor-version":[{"id":65051,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/65049\/revisions\/65051"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/65050"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=65049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=65049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=65049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}