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US Labor Department Rescinds Biden-Era Crypto Warning for Retirement Plans

The U.S. Department of Labor has rescinded its 2022 guidance that warned fiduciaries to exercise “extreme care” when considering cryptocurrencies for 401(k) retirement plans.

The original release, issued under the Biden administration, had signaled skepticism about the inclusion of digital assets in retirement investment menus. It advised plan managers to treat cryptocurrencies with heightened caution, citing concerns about volatility and investor protection. However, that guidance introduced a standard—“extreme care”—not found in the Employee Retirement Income Security Act (ERISA).

US Labor Department Rescinds Biden-Era Crypto Warning for Retirement Plans

The U.S. Department of Labor has rescinded its 2022 guidance that warned fiduciaries to exercise “extreme care” when considering cryptocurrencies for 401(k) retirement plans.

The original release, issued under the Biden administration, had signaled skepticism about the inclusion of digital assets in retirement investment menus. It advised plan managers to treat cryptocurrencies with heightened caution, citing concerns about volatility and investor protection. However, that guidance introduced a standard—“extreme care”—not found in the Employee Retirement Income Security Act (ERISA).

https://news.bitcoin.com/us-labor-department-rescinds-biden-era-crypto-warning-for-retirement-plans/