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According to Cointelegraph, the turmoil surrounding crypto exchange FTX and Sam Bankman-Fried (SBF) reaffirmed regulators’ belief about the need for stricter oversight across the crypto ecosystem. Seeking investor protection against a similar fallout, New York Attorney General (NYAG) Letitia James recommended prohibiting crypto investments in defined contribution plans and individual retirement accounts (IRAs). In a letter addressed to the members of the U.S. Congress, James requested legislation that would bar United States citizens from purchasing cryptocurrencies and digital assets using their funds in IRAs and defined contribution plans such as 401(k) and 457 plans. On the other hand, the NYAG clarified that there is a distinction between digital assets and blockchain technology. She does believe that U.S. citizens should be allowed to purchase stakes in publicly traded blockchain-based businesses in retirement accounts.

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【New York Attorney General pushes prohibition of crypto purchases via retirement funds】According to Cointelegraph, the turmoil surrounding crypto exchange FTX and Sam Bankman-Fried (SBF) reaffirmed regulators’ belief about the need for stricter oversight across the crypto ecosystem. Seeking investor protection against a similar fallout, New York Attorney General (NYAG) Letitia James recommended prohibiting crypto investments in defined contribution plans and individual retirement accounts (IRAs). In a letter addressed to the members of the U.S. Congress, James requested legislation that would bar United States citizens from purchasing cryptocurrencies and digital assets using their funds in IRAs and defined contribution plans such as 401(k) and 457 plans. On the other hand, the NYAG clarified that there is a distinction between digital assets and blockchain technology. She does believe that U.S. citizens should be allowed to purchase stakes in publicly traded blockchain-based businesses in retirement accounts.

New York Attorney General pushes prohibition of crypto purchases via retirement funds

Disclaimer：The content above does not represent HTX's positions.，HTX does not provide any trading recommendations.。

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