Democratic lawmakers are vehemently opposing a proposal from the US Department of Labor that would allow 401(k) plans to include cryptocurrency and other high-risk investments. In a letter to the Guardian, Senators Bernie Sanders and Elizabeth Warren, along with Representative Bobby Scott, warned that this change could expose around $14.2 trillion of retirement savings to volatile assets, undermining long-held investor protections. They highlighted the financial struggles of US seniors, noting that over 22.8% live in poverty, and cited concerns over the potential for increased fees and diminished long-term returns. The Democrats also referenced significant risks associated with cryptocurrency, including fraud and volatility. Consumer advocates echoed these concerns, suggesting that the rule could transform retirement accounts into risky ventures that primarily benefit the crypto industry. The Trump administration, however, defends the proposal as a way to diversify investment options for workers, claiming it will end the practice of favoring certain investments over others.