WashingtonDC

The crypto market has just received extremely positive news from the U.S. government: the U.S. Department of Labor has officially revoked the 2022 guidance that advised 401(k) retirement funds against investing in cryptocurrency. This is a significant turning point, paving the way for Bitcoin and crypto to be included in the long-term investment portfolios of millions of Americans.

Previously, the 2022 guidance was criticized for contradicting the neutral principles that the Department of Labor has pursued. This regulation required trustees to be 'extremely cautious' if they wanted to include crypto in their portfolios, creating a significant barrier to financial innovation. Now, according to Labor Secretary Lori Chavez-DeRemer, investment decisions should be made by the trustees, not by officials at #WashingtonDC intervening.