<ul><li>The US Department of Labor has rescinded its 2022 guidance against including cryptocurrency investments in 401(k) retirement plans, deeming the previous administration's approach as 'overreach'.</li><li>The Department of Labor's Employee Benefits Security Administration (EBSA) rescinded the guidance issued in March 2022, which cautioned plan fiduciaries under ERISA to be cautious about adding digital assets due to significant risks involved.</li><li>The DOL mentioned concerns about the prudence of exposing retirement accounts to direct cryptocurrency investments citing risks of fraud, theft, and loss, also highlighting regulatory challenges and SEC's caution against highly speculative nature of digital assets.</li><li>The DOL's latest approach is neutral regarding cryptocurrency investments, neither endorsing nor disapproving fiduciaries' decisions to include them in a plan's investment menu. The decision renounces the 2022 guidance and emphasizes that investment decisions should be made by fiduciaries, not bureaucrats.</li></ul>

US Department Of Labor Rescinds 2022 Guidance Against Crypto Investments For Retirement Plans

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