Trump Administration Lifts Restrictions on Bitcoin and NFTs
Summary
Cryptocurrencies are now included in 401(k) plans.
Trump paves the way for Bitcoin in retirement funds.
No additional rules apply to crypto in 401(k)s.
Digital assets are now ready for retirement savings.
Biden’s warning on crypto is officially lifted.
The Trump administration has removed barriers to incorporating cryptocurrencies into 401(k) retirement plans. The Department of Labor has overturned the Biden-era advisories that discouraged crypto investments. This shift permits employers to include digital assets in retirement options without facing regulatory challenges.
Crypto Assets No Longer Encounter Additional Obstacles in Retirement Plans
The Labor Department has officially revoked the 2022 guidance that advised against including crypto in defined-contribution plans. Officials contended that the previous warning lacked a firm legal foundation under the Employee Retirement Income Security Act (ERISA). The department is now adopting a neutral stance on the types of investments allowed, granting fiduciaries greater discretion.
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