Senators Richard Durbin, Elizabeth Warren and Tina Smith have sent a letter to Fidelity Investments CEO Abigail Johnson calling for a reconsideration of the option to include Bitcoin in 401(k) retirement savings accounts.
It was supposed to be available to employees of 23,000 companies that use Fidelity to manage their $2.7 trillion retirement plans.
According to the senators:
“The recent collapse of FTX has made it clear that the digital asset industry is in serious trouble. It is full of charismatic geeks, opportunistic scammers and self-proclaimed investment advisors promoting products without the proper level of transparency.”
The company has not announced the launch of 401(k) pension savings accounts with the option to buy Bitcoin.