TechFlow, May 29 — According to the U.S. Department of Labor website, the Employee Benefits Security Administration has withdrawn its 2022 compliance guidance that previously discouraged fiduciaries from including cryptocurrency options in 401(k) retirement plans.
The Department stated that the 2022 guidance required plan fiduciaries to exercise "extra caution" before including cryptocurrencies in investment portfolios—a stance that deviates from the requirements of the Employee Retirement Income Security Act and contradicts the Department’s longstanding neutral, principle-based approach to fiduciary investment decisions.
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