SEC Chair Paul Atkins has voiced support for allowing crypto investments in 401(k) retirement plans, provided they are managed carefully with protective guardrails.
Speaking alongside CFTC Chair Mike Selig in a CNBC interview today, Atkins addressed concerns raised by Senator Elizabeth Warren, who warned that allowing Americans to invest in crypto through retirement accounts could put workers and families at risk of major losses.
Atkins noted that many Americans already have indirect exposure to crypto through professionally managed pension funds. The goal is to carefully let 401(k) plans offer similar access but only under professional management and with protections for retirees.
Atkins also addressed ongoing legislative efforts around crypto regulation, noting the SEC has provided technical assistance to congressional committees for months.
Responding to longstanding discussions about potentially merging the SEC and CFTC, he described past regulatory coordination between the SEC and CFTC as “two different fortresses with a no man’s land in between.”
Selig expressed enthusiasm about pending legislation that would grant the CFTC authority to regulate spot markets for digital assets.
With clear legislation and coordinated regulation between the SEC and CFTC, the US has an opportunity to establish a “gold standard” for crypto markets, creating consistent rules that encourage innovation, support new products and on-chain financial applications, the CFTC chair noted.
Source: https://cryptobriefing.com/sec-atkins-supports-crypto-401k-plans-safeguards-retirees/
