<\/p>\n
The U.S. Department of Labor (DOL) is scrapping a mandate in its 2022 guidance that prevented digital assets from being included in 401(k) retirement plans.<\/p>\n
In a new press release, the DOL says<\/a> it\u2019s rolling back its 2022 compliance release, which previously instructed institutions to forgo using crypto assets as options for 401(k) plans.<\/p>\n In 2022, the DOL warned fiduciaries to use \u201cextreme care\u201d before offering digital assets as options for retirement plans, language that was considered unusual at the time as the agency historically has taken a neutral approach toward the subject, according to the press release.<\/p>\n According to U.S. Secretary of Labor Lori Chavez-DeRemer, the DOL is rolling back the government overreach created by the Biden Administration.<\/p>\n Says Chavez-DeRemer,<\/p>\n \u201cThe Biden administration\u2019s department of labor made a choice to put their thumb on the scale. We\u2019re rolling back this overreach and making it clear that investment decisions should be made by fiduciaries, not D.C. bureaucrats.\u201d<\/em><\/p>\n The DOL says it\u2019s neither endorsing nor disapproving of employers who choose to include crypto assets and notes that its reasoning extends to other crypto-related products, such as derivatives.<\/p>\n Previously, the DOL said it had \u201cserious concerns\u201d about people\u2019s retirement funds being tied up in crypto due to \u201csignificant risks of fraud, theft, and loss.\u201d<\/p>\n Follow us on X<\/a>, Facebook<\/a> and Telegram<\/a><\/span><\/em>   Featured Image: Shutterstock\/oneinchpunch<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" The U.S. Department of Labor (DOL) is scrapping a mandate in its 2022 guidance that prevented digital assets from being included in 401(k) retirement plans. In a new press release, the DOL says it\u2019s rolling back its 2022 compliance release, which previously instructed institutions to forgo using crypto assets as options for 401(k) plans. In […]<\/p>\n","protected":false},"author":2,"featured_media":379417,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-393551","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/393551","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=393551"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/393551\/revisions"}],"predecessor-version":[{"id":393552,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/393551\/revisions\/393552"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/379417"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=393551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=393551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=393551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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