Bloomberg: Trump Pushes to Include Cryptocurrencies in Pension Accounts, But Still at Risk of Benefits Lawsuit

According to Bloomberg, the potential litigation risk for employers who are legally obligated to regulate their employees' 401 (k) investments could hamper U.S. President Donald Trump's push to include more cryptocurrencies in employee retirement accounts.
The Labor Department has rescinded guidance from the Biden administration that warned corporate retirement plans to avoid allocating to digital assets. It is part of a broader policy shift by the White House to push for the opening of 401 (k) accounts to alternative assets, including private equity, especially as Trump-backed companies back up the ante bitcoin investments.
Currently, crypto assets make up less than 1% of the $9 trillion 401 (k) market, which has traditionally been almost entirely concentrated in stocks and bonds.
Note: Benefit litigation refers to legal actions brought by employees, retirees, or their representatives against employers, pension plan administrators (trustees), or related institutions for employee benefit plans such as pensions, 401 (k), and health insurance.