INCLUDE BITCOIN IN ITS 401(K) ACCOUNTS HAS RAISED CONCERNS
It has been the last busy week of the financial industry and the crypto market.
This week, the American investment bank Goldman Sachs announced that it was examining the issuance of token securities. Last month, Goldman made his first over-the-counter (OTC) trade with Galaxy Digital.
On Thursday, Wallman’s first crypto-mover crypto Goldman released its first Bitcoin (BTC) loan-based platform on Thursday.
Another step in the crypto world is Fidelity Investments. Fidelity's latest move, however, has attracted the attention of the US Department of Labor.
The US Department of Labor raises concerns about Fidelity's 401 (K) plans.
On Thursday, the Wall Street Journal reported concerns among Department of Labor officials over Fidelity Investment's plan to allow investors to deposit Bitcoin (BTC) in their 401 (K) accounts.
According to the report, the acting secretary of the Employee Benefits Security Administration, Ali Khawar, said.
"We are very concerned about what Fidelity has done."
Khawar also reportedly discussed the hype surrounding Bitcoin and the wider crypto market and the speculative nature of cryptocurrency investing.
The US Department of Labor has responded to news of Fidelity's plans to expand the crypto network.
This week, Fidelity Investments announced plans to provide digital investment as part of the US retirement plans.
According to the report, MicroStrategy has already registered for this donation. It remains to be seen whether the Department of Labor will violate Fidelity's goal of providing crypto to more investment viewers.
Fidelity Investments All Access to Crypto and Web3
Last week, Fidelity Investments launched two web3 ETFs to target small customers.
Fidelity Investments has launched the Fidelity Crypto Industry and Digital Payments ETF (FDIG) and Fidelity Metaverse ETF (FMET).
Both ETFs have a total cost of 0.39 and give investors an easy access to exposure to cryptos and web3. Recent offers followed some speculation in the metaverse.
American banking giants Citi and JPMorgan have made headlines with a bullish metaverse speculation.
In March, Citi predicted a $ 13 billion metaverse by 2030, while JPMorgan revealed $ 1 trillion in annual metaverse-related revenue.