Anti-cryptocurrency is growing in the US. New York Attorney General Letitia James recommended banning private pension funds from investing in digital assets.
New York Attorney General Letitia James to the US Congressional Finance Committee on Nov. in his letter, He stated that blockchain technology and digital assets are not the same thing. The prosecutor said he was not against funds investing in companies linked to blockchain technology, but that digital assets could be used for private pension investments. too risky that and that should be banned suggested.
The Attorney General also rejected two laws aimed at allowing funds to invest in digital assets, and 401(k) and 457 demanded new laws that would prohibit contribution schemes such as the purchase of cryptocurrencies and digital assets. Giving an example of the crypto money exchange FTX, which went bankrupt in the past weeks, that you are not reliable Underlining, James listed four reasons to keep pension funds away from digital assets.
The Attorney General’s first priority in retirement plans is investments. protect in the long run stated that. The second reason is that Congress has to protect citizens’ pension funds. to the obligation to protect drawing attention, James stated that the third reason was the experiences in the crypto money markets. scams and as the fourth reason high volatility showed.
In the past days, he has often attracted the reactions of investors with his anti-crypto attitudes. Elizabeth Warren, Tina Smith and Richard Durbin also demanded that investment giant Fidelity Investment reevaluate Bitcoin (BTC) offers in its retirement plans.
on the other hand in October 2022 As a result of a survey conducted, approximately 50% of It turned out that he wanted cryptocurrencies to be included in his retirement plans.