The U.S. Department of Labor sent a final rule to the White House for review this week. Put simply, it aims to give administrators of U.S. company retirement accounts (401(k)s) more confidence about adding alternative assets—including cryptocurrencies—to their investment options. The White House received it on November 5, and it will be published in the Federal Register only after clearing this review.
This doesn’t mean retirement accounts will be able to buy $BTC $ETH right away. The final rule hasn’t been made public yet, and it won’t force any company to offer them. Its main effect is to reduce the risk of plan administrators being sued.
For now, I’d view this as a long-term trend. If it does take effect, the money coming in will be deducted from paychecks month after month—not the kind of hot money that trades back and forth over the weekend.
Sources: Bloomberg Law, Bitcoin Magazine
#BTC #regulation
This doesn’t mean retirement accounts will be able to buy $BTC $ETH right away. The final rule hasn’t been made public yet, and it won’t force any company to offer them. Its main effect is to reduce the risk of plan administrators being sued.
For now, I’d view this as a long-term trend. If it does take effect, the money coming in will be deducted from paychecks month after month—not the kind of hot money that trades back and forth over the weekend.
Sources: Bloomberg Law, Bitcoin Magazine
#BTC #regulation