“Hardworking Americans should not have to worry about their retirement savings being wiped out due to risky bets on unstable assets like cryptocurrencies,” she stressed.New York Attorney General Letitia James announced Tuesday that she has “urged congressional leaders to adopt legislation that would prohibit investing retirement funds in digital assets, such as cryptocurrencies, digital coins, and digital tokens.
In the letter she sent to Sen. Ron Wyden , Sen. Mike Crapo , Rep. Richard Neal , and Rep. Kevin Brady Tuesday, James wrote: On behalf of the people of the state of New York, I urge Congress to pass legislation to designate digital assets — e.g., cryptocurrencies, digital coins, and digital tokens — as assets that cannot be purchased using funds in Individual Retirement Accounts and defined contribution plans, such as 401 and 457 plans.
James provided a few reasons why cryptocurrencies are too risky to be allowed in retirement plans. In addition to having no intrinsic value, she said they are extremely volatile and “often an instrument for fraud and crime.” The attorney general also referenced the terra crash and FTX meltdown, both of which were followed by crypto market sell-offs. Crypto exchange FTX filed for
Shekhar02Singh 🥶
Yes. Bitcoin is not the issue. Corrupt exchanges are the issue. Let people do what they want with THEIR money! Quit trying to control!! Congress will say ' were trying to protect the people from loosing their money, bla, bla, bla'. Does congress urge people not to invest in stock
Letitia James and the Democratic Party’s agenda is to control and track your every move. Their primary goal is to stop New York cryptocurrency investors from achieving financial freedom that would allow them to escape the chains of the communistic state Kyle99072436
Great idea, protect people from real money. Good luck with your FIAT.
FTX just fucked up the whole industry by painting crypto's image badly.
Why they care so much about how people spend their own money?
Wall street pays her wages. She protects Wall St. at the public's expense. Ironic that she is arguing less freedom is better when blacks had to fight so hard for their freedom in your country.
MalakMashaL_
Americans protected from profit 🤪
its probably good that people who do not understand crypto or blockchain not put money into it. especially their precious retirement money
Do what
Dump time n its hard n fast
Great
Another democratic BS, in order to “protect people” she willing to take away freedom and ability to invest our own money like we want to and where we want to, what about legalize crypto in NY and give easier access to it or give more money for NYPD in order to keep us safer.
Why?
Wow. Protecting Investors by not letting them to invest. Grate way of regulating. 5 yo would come up with better plan.
How about you pass a law that says they have to hold the physical crypto when you invest
hmmm what do you think about?
Obviously clueless to any and all forms of investments that make up any retirement account 🙄
Whyy areen't yoou mentioning this?!!!
Also let's be clear. This does not include Bitcoin right?
Just because there's a few bad players doesn't mean the game is bad. The industry is developing and these bad players exit was a must needed event in the Crypto industry. It will force companies and individuals to really do there home work before investing. Sad though allot lost
Letitia, you had to go to Kiev for the bag of cash
Wirecard still an okay investment tho
Typical weffer. Control freak telling others how they spend their savings
Not surprised. They hate crypto...
Thankss a millon
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