U.S Department of Labour Rescinds Crypto Guidance for 401(k)

The United States Department of Labor (DOL) has reversed its 2022 guidance that prevents fiduciaries from adding cryptocurrency options to 401(k) retirement plans. 

The DOL had placed the “extreme care” label on adding cryptocurrency options to retirement plans in 2020. However, this reversal would mean fiduciaries can add digital currencies without federal interference. 

While this reversal aligns with Trump’s broader crypto objectives, experts warn about significant hurdles ahead. Adopting crypto into 401(k) retirement plans will face regulatory complexities and inherent risks.