ME message, December 12 (UTC+8), according to market news, the U.S. Congress is urging the Securities and Exchange Commission (SEC) to approve the inclusion of Bitcoin and other cryptocurrencies in 401(k) retirement plans. Members of the House Financial Services Committee have written to SEC Chairman Paul Atkins, urging him to update securities rules to treat digital assets as an investment category equivalent to other alternative investments in retirement accounts. Lawmakers pointed out that Americans saving for retirement deserve more investment options, as current rules are outdated and overly restrictive, hindering millions of people from accessing new asset classes. They also emphasized the need to redefine the standards for “qualified investors.” Currently, strict investor qualifications limit participation in certain private and alternative investment markets. Such plans are typically available only to wealthy or high-net-worth individuals. Congress now hopes to expand the rules to include those with professional licenses, relevant work experience, or the ability to pass competency exams. Lawmakers also stated that the SEC should coordinate with the Department of Labor, which oversees retirement plan trustees, to jointly develop rules. They believe that the two agencies need to find a safe and responsible way to include alternative assets in 401(k) plan investment options. (Source: ME)

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