US Treasury Secretary Janet Yellen has criticized an attempt to integrate the first cryptocurrency into 401(k) retirement savings account packages. Bloomberg writes about it.

“For most people saving for retirement, this is not what I recommend. “For me, this is a very risky investment,” he said.

According to him, the U.S. Congress can regulate the types of assets that qualify for inclusion in retirement plans:

“I’m not saying I recommend [такой подход]but i think it makes sense.

Previously, Fidelity Investments announced a service that offers customers the opportunity to save bitcoin in their 401(k) retirement savings accounts.

It later became known that the company’s plans worried the US Department of Labor, as well as Senators Elizabeth Warren and Tina Smith.

In May, Republican Tommy Tuberville introduced a bill that would allow citizens to hoard cryptocurrencies on 401(k) and prohibit authorities from limiting the types of investments for such packages.

Recall that in June, 401(k) retirement savings account provider ForUsAll filed a lawsuit against the U.S. Department of Labor to withdraw an order to comply with the department’s requirements regarding cryptocurrency investments.