The administration’s full-throated support of crypto is raising concern from ethics experts who say it overlaps with the president’s personal investments.

The Trump administration on Wednesday rescinded Biden-era guidance urging employers to be cautious before adding cryptocurrency and related digital assets like bitcoin, NFTs and meme coins to 401(k) plans.

The Trump administration is rescinding Biden administration guidance that discouraged cryptocurrency investing by 401 (k) plans. The 2022 guidance directed plan fiduciaries to exercise “extreme care” before adding cryptocurrency to investment menus. That caution has now been removed.