DOL Rolls Back 2022 Crypto Warning for Retirement Plans
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The US Department of Labor (DOL) has withdrawn its 2022 advisory that urged extreme caution when considering crypto in 401(k) plans. The reversal, effective May 28, marks a shift toward a more neutral regulatory stance.
Secretary of Labor Lori Chavez-DeRemer framed the move as correcting bureaucratic overreach, stating, “Investment decisions belong to fiduciaries, not Washington.”
The original guidance had cited crypto’s volatility and valuation risks as threats to retirement savings.
The American Banking Association had previously objected, arguing the policy was enacted without public review. The withdrawal could pave the way for more crypto exposure in retirement portfolios.
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