CNBC’s MacKenzie Sigalos joins 'Closing Bell' to discuss Vice President JD Vance’s keynote at bitcoin’s flagship event in Las Vegas — and the Labor Department’s reversal of 2022 guidance that had discouraged crypto in retirement accounts.

Las Vegas

Vice President JD Vance addressed over 35,000 attendees at Bitcoin 2025 in Las Vegas, describing cryptocurrency as a hedge against poor policymaking and emphasizing plans to legitimize stablecoins to support the US dollar's dominance. He criticized former regulators and stated the current administration views stablecoins as enhancing economic strength rather than threatening the dollar.

Concurrently, the Labor Department reversed a 2022 guidance that had discouraged the inclusion of cryptocurrencies in 401(k) retirement plans, stating that fiduciaries should decide investment options rather than bureaucrats. The administration is urging lawmakers to pass crypto-related legislation, including the Genius Act to regulate stablecoins, before the congressional recess, framing crypto as a tool to counter inflation and bolster the economy.

White House pick clears path for crypto in 401(k)s

All right, welcome back. Crypto taking center stage in Las Vegas, where Vice President Vance was the headline speaker today. At the same time, the Trump administration making it easier to include digital currencies in your retirement accounts. All of this coming with Bitcoin staging a major comeback lately. There's a look at your chart. Mackenzie Segalos joins us live from Las Vegas with more. It's good to see you. Hey, there. So we've got Vice President J.D. Vance just addressing more than 35,000 attendees here at Bitcoin 2025, calling crypto a hedge against bad policymaking in Washington. Now, he took aim at former regulators, saying that the administration is still clearing out anti-crypto holdovers and doubled down on plans to legitimize stablecoins as a tool to strengthen dollar dominance. In this administration, we do not think that stablecoins threaten the integrity of the United States dollar. Quite the opposite. In fact, we view them as a force multiplier of our economic might. Just before Vance's speech, the Labor Department reversed a 2022 rule that had discouraged crypto and 401k plans, saying that fiduciaries, not bureaucrats, should decide what belongs in your retirement account. No matter what party is in control, it's a hedge against skyrocketing inflation, which has eroded the real savings rate of Americans over the last four years. Now the administration is pushing lawmakers to get crypto bills on the president's desk before the August recess, starting with the Genius Act to regulate stablecoins, something that the vice president said could become a force multiplier for the U.S. economy.

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