{"id":70441,"date":"2022-11-22T14:46:00","date_gmt":"2022-11-22T12:46:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=70441"},"modified":"2025-09-08T02:18:53","modified_gmt":"2025-09-07T23:18:53","slug":"u-s-senators-urge-fidelity-to-revisit-bitcoin-linked-retirement-products","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/u-s-senators-urge-fidelity-to-revisit-bitcoin-linked-retirement-products\/","title":{"rendered":"U.S. Senators urge Fidelity to revisit Bitcoin-linked retirement products"},"content":{"rendered":"<p>Senators Richard Durbin, Elizabeth Warren and Tina Smith<a href=\"https:\/\/www.durbin.senate.gov\/imo\/media\/doc\/letter_to_fidelity_investments_ceo.pdf\">sent<\/a> a letter to Fidelity Investments CEO Abigail Johnson, urging a review of including Bitcoin in the retirement accounts <a href=\"https:\/\/ru.wikipedia.org\/wiki\/401(k)\"> 401(k).<\/a><\/p>\n<p>It was expected to be available to employees of 23,000 companies that use Fidelity to manage their retirement plans worth $2.7 trillion.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u00abThe recent <\/em><a href=\"https:\/\/u1f987.com\/en\/news\/ftx-group-files-for-bankruptcy-sam-bankman-fried-resigns-as-ceo\"><em>FTX collapse<\/em><\/a><em> clearly showed that the digital assets industry has serious problems. It is full of charismatic wunderkinds, opportunistic fraudsters and self-proclaimed investment advisers promoting products without adequate transparency\u00bb,<\/em> \u2014 the lawmakers explained their move. <\/p>\n<\/blockquote>\n<p>The company did not announce the launch of 401(k) retirement accounts with an option to buy Bitcoin.<\/p>\n<p>Earlier this year, Fidelity Investments planned to add such an option<a href=\"https:\/\/u1f987.com\/en\/news\/fidelity-investments-to-allow-clients-to-hold-bitcoin-in-401k-retirement-accounts\"> in the summer<\/a>. However, the launch was pushed back to autumn due to regulatory pressure, with the company in close dialogue with regulators.<\/p>\n<p>In April, the U.S. Department of Labor<a href=\"https:\/\/u1f987.com\/en\/news\/us-labor-department-concerned-by-fidelitys-bitcoin-initiative-for-retirement-accounts\"> said<\/a> it had &#8220;serious concerns&#8221; about Fidelity Investments&#8217; initiative.<\/p>\n<p>In July, Durbin, Warren and Smith<a href=\"https:\/\/u1f987.com\/en\/news\/u-s-senators-press-fidelity-to-explain-bitcoins-inclusion-in-retirement-plans\">sent<\/a> Johnson a similar request demanding an explanation of the rationale for developing the product.<\/p>\n<p>Earlier, Warren<a href=\"https:\/\/u1f987.com\/en\/news\/senator-elizabeth-warren-compared-cryptocurrencies-to-the-us-mortgage-crisis\"> compared<\/a> cryptocurrencies to the U.S. housing crisis.<\/p>\n<p>In 2020, US retirement plans with investments in the first cryptocurrency were offered by <a href=\"https:\/\/u1f987.com\/en\/news\/u-s-daim-launches-erisa-compliant-401k-plan-with-bitcoin-stake\">DAiM<\/a>, as well as Bitwage with Gemini.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on our <a href=\"\/\/telegram.me\/forklog\u201d\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Senators Richard Durbin, Elizabeth Warren and Tina Smith sent a letter to Fidelity Investments CEO Abigail Johnson, urging a review of including Bitcoin in the 401(k) retirement accounts.<\/p>\n","protected":false},"author":1,"featured_media":70442,"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-70441","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":"8","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/70441","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=70441"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/70441\/revisions"}],"predecessor-version":[{"id":70443,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/70441\/revisions\/70443"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/70442"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=70441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=70441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=70441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}