Crypto in 401(k)s Spurs Hope for Inclusion of Private Assets (1)

The US Labor Department will no longer urge 401(k) overseers to act with “extreme care” before offering cryptocurrencies, a decision that will be welcomed by some firms lobbying to add private assets to those accounts.

In rescinding the 2022 guidance issued under President Joe Biden, the Labor Department said it’s now taking a neutral stance on whether administrators of defined-contribution plans should be cautious about including crypto in their menus of investment options.

“We’re rolling back this overreach and making it clear that investment decisions should be made by fiduciaries, not DC bureaucrats,” Secretary of Labor Lori Chavez-DeRemer said ...