US EditionLabor Department Reverses Course on Crypto in 401(k) Plans
- On Wednesday, the U.S. Department of Labor withdrew the 2022 Biden administration guidance that cautioned those managing 401 plans against including cryptocurrency investment options.
- The rescission responds to criticisms that the prior guidance, which urged fiduciaries to exercise 'extreme care,' deviated from ERISA's neutral, principled-based investment standards.
- The Labor Department clarified it remains neutral on crypto options and emphasized fiduciaries—not the government—should make investment decisions in 401 plans covering digital assets.
- Secretary Lori Chavez-DeRemer stated, 'We're rolling back this overreach' and reaffirmed ERISA requires prudent investment decisions based on care, skill, and diligence by fiduciaries.
- This policy reversal aligns with the Trump administration's broader crypto-friendly stance amid growing industry involvement by Trump and calls for regulatory guardrails on digital asset investments.
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46 Articles
Want a Crypto 401(k)? The DOL Isn’t Standing in the Way Anymore
The Department of Labor is getting out of crypto’s way in 401(k) plans. The agency on Wednesday changed its tune about bitcoin and any other digital asset being included in employer-sponsored retirement plans. It rescinded guidance from 2022 that directed plan fiduciaries to use “extreme care” when considering crypto. While that didn’t forbid digital assets in 401(k)s, it didn’t exactly help the cause. Now, the DOL says it is taking a neutral st…
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Labor Department Reverses Biden-Era Stance on Crypto in 401(k) Plans - The Thinking Conservative
U.S. Dept of Labor rescinded 2022 warning to fiduciaries against including cryptocurrency in 401(k) retirement plans, reversing Biden-era policy. The post Labor Department Reverses Biden-Era Stance on Crypto in 401(k) Plans appeared first on The Thinking Conservative.
Labor Department Reverses Biden-Era Stance on Crypto in 401(k) Plans
The U.S. Department of Labor on May 28 rescinded 2022 guidance that warned fiduciaries against including cryptocurrency in 401(k) retirement plans, reversing a Biden-era policy that critics said discouraged innovation in retirement investing. The 2022 compliance release had advised plan fiduciaries to exercise “extreme care” before adding crypto assets. The department now says that this language deviated from the standards of the Employee Retire…
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