Nine US lawmakers asked the SEC to move forward on last month’s executive order to speed up the inclusion of alternative assets like crypto in US retirement funds. US lawmakers have called on Securities and Exchange Commission Chair Paul Atkins to help accelerate the executive order enabling crypto investments in US 401(k) retirement plans. In the letter on Monday, nine lawmakers, including House Financial Services Committee Chairman French Hill and Subcommittee on Capital Markets Chairman Ann Wagner, said that Atkins was asked to “provide swift assistance” to the Secretary of Labor and to make any necessary adjustments to its current regulations and guidance. They also noted that under President Donald Trump’s August executive order on “Democratizing Access to Alternative Assets for 401(k) Investors,” the SEC was instructed to make alternative assets like crypto more accessible in participant-directed retirement plans, in consideration of accredited investor and qualified purchaser rules. Read more
Tether said reports that it has exited Uruguay “do not accurately reflect the situation” and the local mining operator is working with the government to “resolve friction.” Stablecoin issuer Tether has denied widespread local media reports that it is exiting Uruguay over a $4.8 million debt dispute with one of the country’s state-owned electricity entities. According to local news source Telemundo, Tether abandoned its crypto mining operations and future plans after the National Administration of Power Plants and Electric Transmissions (UTE) unplugged power at its facilities for failing to pay a $2 million electricity bill for May. It also reported that Tether also owed around $2.8 million for other local projects, bringing its total liabilities to roughly $4.8 million, excluding fines and surcharges, Telemundo said on Saturday, citing fellow local news outlet Busqueda, which first reported the news two days earlier. Read more