the Trump administration is revoking the guidance issued by the US Department of Labor in 2022, which discourages companies from investing in cryptocurrencies in 401(k) plans. The guidance from the Biden era warns companies to be "extra cautious" before adding cryptocurrencies to employee investment options. On May 28, the Employee Benefits Security Administration, a sub-agency of the Department of Labor, stated that the Biden administration's stance contradicts the neutral position that the agency is required to take by law. The statement said that looking ahead, the department will neither support nor oppose specific investment choices.
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Trump revokes Biden-era guidance, uses it to boost cryptocurrency investments in 401(k) plans
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Economists expect the Federal Reserve to cut interest rates in December, with two more cuts possible in 2026.
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Bank of America: Markets will soon digest expectations of a Fed rate cut in January.
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White House National Economic Council Director Hassett: It's Time for the Fed to Cautiously Cut Interest Rates
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The yield on the 10-year U.S. Treasury note rose 2 basis points to 4.12%, a new high since November 2020.
yield on the US 10-year Treasury rose 2 basis points to 4.12%, reaching a new high since November 2020. -
Social media platform "X" has been fined €120 million by the European Union for violating content regulations.
social media platform "X" was fined 120 million euros by the European Union for violating content regulations. The European Commission stated that X violated three provisions of the Digital Services Act and gave X 60 days to provide a solution and 90 days to implement it. (Jin10) -
Sovereign Wealth Funds Were Buyers as Bitcoin Plunged: BlackRock's Larry Fink
The CEO of the asset management giant, whose IBIT is the largest of the spot BTC ETFs, said the state actors were buying not for a trade, but to hold for years.
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US investors consider crypto less as risk-taking drops: FINRA study
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