The Trump administration revokes the Biden era guidance that discouraged businesses from investing in cryptocurrencies

The Trump administration is revoking the guidance issued by the US Department of Labor in 2022, which discouraged businesses from investing in cryptocurrencies in 401 (k) plans. Former US President Biden's guidance warned companies to be "extra cautious" before adding cryptocurrency to employee investment options. On May 28th, the Employee Benefits and Social Security Administration (EBSSA) under the Department of Labor stated that this stance (of the Biden administration) violates the agency's legally required neutral attitude. The statement states that looking ahead, the department will neither support nor oppose specific investment choices. (Sina Finance)