By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > News > US opens door to retirement savers purchasing crypto tokens
News

US opens door to retirement savers purchasing crypto tokens

News Room
Last updated: 2025/05/28 at 12:41 PM
By News Room
Share
4 Min Read
SHARE

Unlock the White House Watch newsletter for free

Your guide to what Trump’s second term means for Washington, business and the world

The US has opened the door to Americans purchasing crypto tokens in their retirement accounts, underscoring how Donald Trump is taking a far more tolerant approach to digital assets than his predecessor Joe Biden.

The Department of Labor said on Wednesday it had rescinded previous guidance issued in 2022 for retirement plan managers and sponsors to exercise “extreme care before they consider adding a cryptocurrency option to a 401(k) plan’s investment menu,” referring to a widely used employer-sponsored vehicle for US pension savings.

The removal of the language concerning “extreme care” comes just a day after the Trump family media company said it would raise $2.5bn to buy bitcoin, and offers the latest sign of how the new administration is opening the floodgates to greater investment in cryptocurrencies.

Vice-president JD Vance is set to address a bitcoin conference in Las Vegas on Wednesday. Other senior US officials, and Trump associates and family members, are also attending the event.

The president has emphasised his eagerness to make the US the “crypto capital of the world”. In recent days, bitcoin — the biggest digital token by market value — leapt to an all-time high of more than $110,000 as traders bet that Trump’s government would be much more open in its approach to crypto assets than previous administrations.

The cryptocurrency was trading just below $108,000 on Wednesday morning.

In its new statement, the labour department said that the 2022 directions around “extreme care” — issued under the Biden administration — had “marked a departure from the department’s historically neutral, principled-based approach to fiduciary investment decisions”.

The department added that its revocation of the 2022 wording meant that it was “[reaffirming] its neutral stance, neither endorsing, nor disapproving of, plan fiduciaries who conclude that the inclusion of cryptocurrency in a plan’s investment menu is appropriate”.

Referring to the previous administration’s guidance as “over-reach,” US secretary of labour Lori Chavez-DeRemer said that the department was “rolling [this] back” and “making it clear that investment decisions should be made by fiduciaries, not DC bureaucrats”.

In the US, 401k plans are among the most popular ways working Americans save for retirement, giving them the option to invest some of their salaries in publicly traded securities tax free. Employers work with plan managers to offer a limited set of investment options.

Retirement plan managers and sponsors must still comply with the Employee Retirement Income Security Act, which requires them to act in investors’ best interest by taking into account the potential risks and rewards of investments.

Significant volatility in crypto assets has often made managers and companies that sponsor employee plans reluctant to offer direct investments in tokens on concerns it could open them to lawsuits.

Read the full article here

News Room May 28, 2025 May 28, 2025
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Microsoft poaches top Google DeepMind staff in AI talent war

Stay informed with free updatesSimply sign up to the Artificial intelligence myFT…

Most Americans can’t answer basic retirement questions: Survey

Watch full video on YouTube

How Airbus beat Boeing to become the world’s biggest plane maker

Watch full video on YouTube

White Brook Capital Partners Q2 2025 Commentary

A look forward Market Commentary Year to date the S&P 500 (SP500,…

EU must strengthen Asian security ties despite US pressure, says Kaja Kallas

Unlock the White House Watch newsletter for freeYour guide to what Trump’s…

- Advertisement -
Ad imageAd image

You Might Also Like

News

Microsoft poaches top Google DeepMind staff in AI talent war

By News Room
News

White Brook Capital Partners Q2 2025 Commentary

By News Room
News

EU must strengthen Asian security ties despite US pressure, says Kaja Kallas

By News Room
News

US embassy in China warns exit bans risk straining bilateral relations

By News Room
News

Client Challenge

By News Room
News

Donald Trump’s escalating attacks on Federal Reserve unnerve investors

By News Room
News

Spain overtakes Germany as top EU asylum destination

By News Room
News

Brussels stalls probe into Elon Musk’s X amid US trade talks

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?