Trump Push for Crypto in 401(k)s Brings Employer Risk (Correct)

Litigation risk for employers with a legal duty to monitor their employees’ 401(k) investments is set to hamper President Donald Trump‘s efforts to allow more cryptocurrency into workers’ retirement accounts.

The US Labor Department is reversing Biden-era guidance that warned plans against digital currencies in workplace retirement portfolios. It’s part of a broader move by the White House to open 401(k)s to alternative assets like private equity, as Trump-backed businesses double down on Bitcoin.

Crypto assets make up less than 1% of the $9 trillion 401(k) market, which is usually solely concentrated in stocks and bonds. That proportion ...