{"id":130188,"date":"2025-05-28T22:16:03","date_gmt":"2025-05-28T22:16:03","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=130188"},"modified":"2025-05-28T22:16:03","modified_gmt":"2025-05-28T22:16:03","slug":"labor-department-rescinds-biden-era-guidance-for-crypto-in-401k-plans","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=130188","title":{"rendered":"Labor Department rescinds Biden-era guidance for crypto in 401(k) plans"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsThe US Labor Department has officially rescinded guidance issued during the Biden administration that limited the inclusion of cryptocurrency in 401(k) retirement plans.<br \/>\nOn May 28, the Labor Department revoked a 2022 guidance that had urged fiduciaries to be \u201cextremely cautious\u201d when considering cryptocurrency for 401(k) retirement plans. The move could give asset managers more flexibility to include digital assets in retirement investment options.<br \/>\nThe government agency removed the guidance asserting that it represented a departure from the department\u2019s \u201chistorically neutral, principled-based approach to fiduciary investment decisions.\u201d<br \/>\n\u201cWe\u2019re rolling back this overreach and making it clear that investment decisions should be made by fiduciaries, not D.C. bureaucrats,\u201d said US Secretary of Labor Lori Chavez-DeRemer.<br \/>\nThe Labor Department under Biden criticized the practice of marketing cryptocurrencies to 401(k) participants. At the time, the agency claimed cryptocurrencies posed \u201csignificant risks and challenges\u201d to participants\u2019 retirement accounts due to their \u201cspeculative and volatile\u201d nature and \u201cvaluation concerns,\u201d among other reasons.<br \/>\nThe American Banking Association (ABA) criticized the 2022 compliance release, claiming that it did not make the guidance available for public comment and review prior to issuance.<br \/>\nRelated: Fidelity introduces retirement accounts with minimal-fee crypto investing<br \/>\nTrump administration shifts crypto landscape<br \/>\nPresident Trump has pledged to make the United States \u201cthe world capital of crypto\u201d during his 2024 campaign.Under his administration, the Securities and Exchange Commission has scaled back several enforcement actions and investigations involving Web3 companies such as Uniswap, Coinbase, and Kraken, while also engaging in policy discussions on topics like real-world asset tokenization and the regulatory status of certain tokens. At the same time, some lawmakers have expressed concerns about Trump\u2019s involvement in the crypto space, including calls for greater scrutiny of his associated ventures.<br \/>\nMagazine: Trump\u2019s crypto ventures raise conflict of interest, insider trading questions<a href=\"https:\/\/cointelegraph.com\/news\/labor-department-rescinds-biden-guidance-crypto-401k-plans?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsThe US Labor Department has officially rescinded guidance issued during the Biden administration that limited the inclusion of cryptocurrency in 401(k) retirement plans. On May 28, the Labor&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/130188"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=130188"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/130188\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=130188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=130188"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=130188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}