News · Regulation & Policy
The Employee Benefits Security Administration has repealed instructions cautioning fiduciaries against offering cryptocurrency options in retirement menus.
Key point 1 of 3
01
The U.S. Department of Labor rescinded 2022 guidance that warned fiduciaries against adding crypto to 401(k) plans.
Key point 2 of 3
02
Labor Secretary Lori Chavez-DeRemer stated the previous measure deviated from the Employee Retirement Income Security Act.
Key point 3 of 3
03
The department returned to a neutral approach, neither endorsing nor barring crypto options in employer retirement menus.
Context
In 2022, the Labor Department cautioned plan administrators that crypto posed significant risks to retirement savers, urging extreme fiduciary caution.
Why it matters
Retirement plan fiduciaries and employers regain flexibility under ERISA standards to evaluate digital asset options without targeted regulatory warnings.
What to watch
Subsequent adoption announcements from workplace retirement administrators or plan providers considering crypto investment allocations.
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