U.S. Senators: "Retirement fund investments in virtual assets could cause financial losses"

JH Kim

Summary

U.S. Senators Warren and Sanders warned that the Trump administration's move to include virtual assets in retirement fund investments could cause financial losses.
The two senators pointed to the lack of transparency and the exaggerated profitability risks of virtual assets, expressing concern about undermining the stability of retirees' savings.
They reported that political debate over virtual asset regulation and expanded institutional investment in the U.S. is heating up again.

U.S. Senators Elizabeth Warren (Elizabeth Warren) and Bernie Sanders (Bernie Sanders) criticized the Trump administration's policy to expand retirement fund investments in virtual assets (cryptocurrencies). The two senators warned that the measure could cause financial losses for millions of Americans.

On the 29th (local time), according to Bloomberg (Bloomberg), Warren and Sanders said in a joint statement, "President Trump's executive order is exposing retirees' hard-earned savings to highly volatile financial products," and added, "It is being packaged as an alternative asset, but in reality it is a risky asset lacking transparency and with overstated profitability."

President Trump is reported to be considering expanding the share of virtual assets within pension and retirement fund portfolios through a recent executive order. Warren and Sanders added, "Including retirees' funds in speculative assets could undermine long-term financial stability."

As differences between the two sides become clear, discussion of virtual asset regulation and institutional investment in the U.S. is reemerging as a hot political issue.