The US Labor Department is making a U-turn from its previous stance against the inclusion of Bitcoin and cryptocurrencies in retirement plans. Going forward, the Labor Department will adopt a neutral position toward cryptocurrencies, potentially opening the floodgates for fiduciaries to include them in 401(K) plans. US Labor Department Is Not Against Bitcoin In 401(K) Plans According to a press release, the US Department of Labour is changing its position on the inclusion of cryptocurrency options in 401(K) retirement plans. The US Labor Department is rescinding its previous 2022 guidance that warned fiduciaries on the dangers of offering Bitcoin and cryptocurrencies in retirement plans. At the time, the Labor Department urged fiduciaries to take “extreme care” in offering cryptocurrency options to investors. While not expressly banning their inclusion, the dire warnings by the Labor Department stifled cryptocurrency offerings in the investment menus offered by fiduciaries. “We’re rolling back this overreach… Read More at Coingape.com
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