US Labor Department Rescinds Crypto Guidance, UK Prepares Regulatory Framework for Stablecoins

The financial world is witnessing a major shift as the US and UK are embracing cryptocurrencies within their traditional financial systems. The US Department of Labor has reversed its 2022 guidance discouraging crypto assets in retirement plans, allowing plan managers greater discretion in incorporating digital assets like Bitcoin and Ethereum. This marks a significant pivot from the Biden administration’s previous stance, acknowledging the growing interest in crypto for long-term savings.