The Guardian reported that as the Trump administration pushes for deregulation to allow virtual assets (cryptocurrencies) and private equity funds to be included in the '401(k)', a representative retirement pension for American workers, senior Democratic lawmakers have stepped up to completely block the measure, calling it an action that exposes workers to extreme financial risks.

Senators Bernie Sanders and Elizabeth Warren, along with House Education and Labor Committee Chairman Bobby Scott, recently sent a joint letter strongly opposing this recent amendment by the US Department of Labor (DOL).

In the joint letter, they specifically cited President Trump's memecoin as an example of failure. The Democratic side stated, "These high-risk assets will destroy retirement funds," signaling plans to file a lawsuit in court to rescind the regulation.

Furthermore, they pointed out that this measure is directly tied to the private interests of President Trump's family, directly targeting the issue of conflicts of interest as well.