US EditionTrump administration axes Biden-era barrier for crypto in 401(k) plans
- The U.S. Department of Labor rescinded its 2022 Biden-era guidance warning 401 fiduciaries against offering cryptocurrency options on Wednesday.
- This reversal follows criticism that the prior guidance imposed an 'extreme care' standard absent from ERISA and departed from the department's historically neutral stance.
- The new Labor compliance assistance release clarifies the department remains neutral on crypto inclusion in plans and applies the same prudence criteria used for other digital assets.
- Labor Secretary Lori Chavez-DeRemer emphasized that choices about investments should be the responsibility of fiduciaries rather than government officials in Washington, D.C., adding that the new guidance aims to reverse previous excessive regulatory actions.
- The rescission may encourage wider crypto investment in retirement plans but also renews debates on risks like fraud, amid ongoing crypto industry developments under the Trump administration.
47 Articles
47 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 It rescinded guidance from 2022 that directed plan fiduciaries to use “extreme care” when considering crypto.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…
The Independent
The Independent (US)Trump team makes it easier to invest 401(k)s in crypto. Here’s why that may be bad
The Trump administration has pulled Biden-era guidance from the Department of Labor that strongly advised employers against offering cryptocurrency in 401(k) retirement plans for their workers.
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U.S. Dept of Labor rescinded 2022 warning to fiduciaries against including cryptocurrency in 401(k) retirement plans, reversing Biden-era policy.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The U.S. Department of Labor on May 28 rescinded 2022 guidance that warned fiduciaries against including cryptocurrency in 401(k) retirement plans, reversing a Biden-era policy that critics said discouraged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.
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