Washington’s Crypto Flip-Flop Sends Digital Assets Soaring
Regulators blink—and Bitcoin bulls charge. The Treasury’s latest policy pivot scraps decades-old banking roadblocks, funneling institutional money into decentralized ledgers. Wall Street’s usual gatekeepers? Suddenly playing catch-up.
Mainstream finance just got a blockchain enema. Pension funds and hedge managers—once crypto’s loudest critics—now scramble to rebalance portfolios with ETH and SOL. Even the SEC’s enforcement division looks understaffed against this tidal wave of tokenized demand.
Funny how ’risky speculation’ becomes ’strategic allocation’ when Goldman needs a new revenue stream. The real disruption? Watching legacy banks rebrand their compliance departments as ’digital asset innovation hubs.’
The Key Development in Cryptocurrencies
The U.S. Department of Labor’s Employee Benefits Security Administration reversed guidance that previously discouraged trustees from incorporating cryptocurrency options into 401(k) retirement plans. With the 2022 guidance revoked, pension funds can now invest through Spot Bitcoin
$108,852 ETFs and cryptocurrencies. The department announced this revocation, stating that the previous guidelines violated neutrality and forced funds away from crypto.
U.S. Labor Secretary Lori Chavez-DeRemer remarked:
“The Biden administration’s labor department has chosen to tip the scales. We are retracting this extremity and clearly stating that investment decisions should be made by fiduciaries, not D.C. bureaucrats.”
The department emphasizes its neutrality towards cryptocurrency for retirement funds and refrains from endorsing or discouraging these investments.
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