The Biden-era guidance had cautioned companies to exercise "extreme care" before adding crypto to their employees' investment menus, which the DOL says departed from its required neutral approach. The reversal could reignite interest in crypto investing in 401(k)s, and the administration is signaling closer ties to alternative assets, including considering a directive to allow 401(k)s to access private equity markets.
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Trump boosts crypto in 401(k)s by axing Biden-era guidance
“The Biden administration’s department of labor made a choice to put their thumb on the scale,” said Secretary of Labor Lori Chavez-DeRemer in a statement. “We’re rolling back this overreach and making it clear that investment decisions should be made by fiduciaries, not DC bureaucrats.”
