SEC Warns Against Including Crypto Assets in Retirement Accounts

SEC Warns Against Including Crypto Assets in Retirement Accounts
Representations of virtual cryptocurrencies are placed on U.S. Dollar banknotes in this illustration taken on Nov. 28, 2021. Dado Ruvic/Reuters
Naveen Athrappully
Updated:
0:00

The U.S. Securities and Exchange Commission (SEC) has warned Americans over the risk of including assets like cryptocurrencies in their self-directed individual retirement accounts (IRAs) as well as unregulated trading platforms posing as exchanges.

Some self-directed IRAs offer investment in crypto assets like tokens, coins, and virtual currencies. Such assets “may be securities that are offered without SEC registration or a valid exemption from registration, and may not be accompanied by complete or accurate information to aid investors in making informed decisions,” the SEC said in a Feb. 7 alert.