The plan has been met with push-back from the US Labor Department.
Wall Street Journal with the info:
- “We have grave concerns with what Fidelity has done,” Ali Khawar, acting assistant secretary of the Employee Benefits Security Administration, said in an interview with The Wall Street Journal.
- Mr. Khawar’s group works inside the Labor Department to regulate company-sponsored retirement plans.
- In the interview, he said he views cryptocurrency as speculative. There is “a lot of hype around ‘You have to get in now because you will be left behind otherwise,’” he said.
Fidelity disclosed its plan to give the 23,000 companies that use its 401(k) services the option for workers to allocate as much as 20% of their nest eggs to bitcoin.
On the bright side, at least they ain't getting in at the top ....
Weekly candles BTC/USD.