「加密退休计划」遭民主党猛批：特朗普在「收割」美国工人养老金
- Main Point: U.S. Democratic Senators Sanders and Warren have jointly sent a letter to the Department of Labor, strongly opposing a proposed rule that would allow retirement savings accounts (401(k)) to invest in cryptocurrencies like Bitcoin. They argue that this move would jeopardize workers' finances and enable improper gains for the Trump family.
- Key Elements:
- The new rule provides protection for 401(k) fiduciaries, permitting them to offer volatile assets such as cryptocurrencies, provided they simply demonstrate that relevant factors have been considered. Critics argue this overturns existing prudence standards.
- Democrats contend the rule violates laws and legal precedents, exposing approximately $14.2 trillion in U.S. retirement funds to highly volatile and under-regulated assets.
- FBI data indicates that crypto fraud losses in 2025 exceeded $11 billion, the highest among all cybercrime categories, highlighting extreme risk.
- Criticism directly targets conflicts of interest: the Trump family's crypto ventures have already raised around $5 billion, and expanding the rule could allow them to profit at the expense of retirees.
- The letter notes that over 22.8% of U.S. seniors live in poverty, underscoring retirees' high vulnerability to significant losses.
Original Author: Micah Zimmerman
Original Translation: AididiaoJP, Foresight News
Senators Bernie Sanders (I-VT) and Elizabeth Warren (D-MA) have called on the Department of Labor under the Trump administration to revoke a rule that would open up U.S. retirement savings accounts to Bitcoin and other cryptocurrencies. The lawmakers stated that this move would jeopardize workers' financial futures while allowing President Trump and his family to profit.
On Monday, three Democrats sent a 14-page letter to Acting Secretary of Labor Keith Sonderling. Sanders and Warren, along with Rep. Bobby Scott (D-VA), the ranking member of the House Committee on Education and the Workforce, strongly condemned the rule proposed by the Department of Labor in March.
The rule would provide protection for fiduciaries of 401(k) plans, allowing them to offer volatile assets—including cryptocurrencies, private equity, and private credit—provided the fiduciary can demonstrate they weighed the relevant factors before offering these assets.
The letter stated: "The proposed rule is harmful to American workers and contradicts the law, congressional intent, existing regulations, and case law."
What Impact Would the Rule Have?
The proposal stems from an executive order signed by President Trump last August, directing the Department of Labor to review the treatment of alternative assets in retirement plans. Under current law, fiduciaries managing 401(k) plans must adhere to a strict "prudence" standard—a requirement rooted in the Employee Retirement Income Security Act (ERISA) of 1974 and reinforced by Supreme Court precedent.
The Democratic lawmakers argue the new rule would overturn this standard. Instead of needing to prove they conducted thorough due diligence, fiduciaries would be presumed to have met their prudence obligation simply by following the procedure outlined in the rule.
The lawmakers stated that this shift conflicts with decades of legal precedent and would expose the approximately $14.2 trillion in U.S. 401(k) accounts to assets with high price volatility and limited regulation.
The Financial Industry Regulatory Authority (FINRA) has warned that crypto investments "exhibit higher volatility relative to traditional investment assets" and carry "a significant risk of losing the entire investment." The Federal Bureau of Investigation (FBI) reported that losses from cryptocurrency scams exceeded $11 billion in 2025, making it one of the highest loss categories in cybercrime.
Arguments Regarding Trump's Conflicts of Interest
The Democratic lawmakers' criticism extends beyond retirement policy, directly pointing to conflicts of interest. Trump's adult children manage the family's crypto business, which, according to the Wall Street Journal, has raised approximately $5 billion for the Trump family since launching its digital currency last September.
The Trump family's crypto investment portfolio includes World Liberty Financial's WLFI and USD1 tokens, as well as the official Trump meme coin—which surged above $75 during Trump's inauguration in January 2025 before crashing to around $2.
The letter stated: "The aforementioned change to the prudence standard expands the opportunity for President Trump and his family to profit at the expense of taxpayers, workers, and retirees."
The consumer advocacy group Americans for Financial Reform expressed similar concerns. Oscar Valdés Viera, a senior policy analyst at the organization, said: "Opening up 401(k) accounts to these products could turn workers' retirement savings into tools akin to a Ponzi scheme, providing a lifeline for an industry desperate for new capital."
The letter also cited data on elderly poverty: Over 22.8% of seniors in the U.S. live in poverty, compared to 5.1% in Denmark, 5.8% in France, and 12.6% in Germany—highlighting the risk that retirees cannot afford significant losses.
The Administration's Defense
The Trump administration describes the rule as a step to expand worker choice.
Acting Secretary of Labor Keith Sonderling stated in a release: "The days are over when the Department of Labor picks winners and losers. Our rule makes clear that managers must assess any potential product offering by following a prudent process."
Treasury Secretary Scott Bessent also voiced support, calling the rule "another step in leading the 'Golden Age' of President Trump."
