Trump Wants Crypto In Your 401(k) Plan
The Trump administration did another favor for digital currencies like bitcoin on Wednesday, retracting earlier federal guidance that discouraged cryptocurrencies for retirement plans.
The 2022 advice issued under former President Joe Biden urged 401(k) managers to exercise “extreme care” before making crypto an investment choice for workers. But the Labor Department said Wednesday it was tossing that guidance aside because it wasn’t “neutral.”
“The Biden administration’s department of labor made a choice to put their thumb on the scale,” Trump’s labor secretary, Lori Chavez-DeRemer, claimed in a statement. “We’re rolling back this overreach and making it clear that investment decisions should be made…
