U.S. Department Of Labor, Withdrawal Of Retirement Pension Cryptocurrency Investment Restrictions…“Decision Is Trustee Manager's Authority”

The United States Department Of Labor has withdrawn existing guidelines that recommended restraint on including cryptocurrencies in the retirement pension system, 401(k) plans. According to Walter Bloomberg, this decision is interpreted as an indication of a change in the government's approach to the cryptocurrency market.

Labor Secretary Lori Chavez-DeRemer criticized that "The previous stance of the Department Of Labor was excessive government intervention," and emphasized that "Investment decisions should be the responsibility of fiduciaries, not bureaucrats." This reflects the position that autonomy in asset composition, including cryptocurrency investments, should be returned to field experts.

This measure is expected to broaden the choice of assets for private fiduciaries in managing retirement pensions, potentially widening the possibility of cryptocurrencies entering mainstream financial institutions. Especially amidst ongoing discussions on stablecoin regulations and strategic Bitcoin accumulation movements, it signals that the position of cryptocurrencies within the system is gradually expanding.

This change may influence institutional investors and pension funds considering cryptocurrencies as a long-term investment vehicle, and can also act as positive momentum for the cryptocurrency market.