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Carlton Fields

New Kids on the Blockchain: Cryptocurrencies in 401(k) Accounts

Carlton Fields on

Department of Labor (DOL) watchers have experienced regulatory whiplash in recent years. During the Biden administration, for example, the DOL issued Compliance Assistance Release (CAR) No. 2022-01, which flouted its...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Participants don’t want crypto either

When things are going great, people are interested. When it isn’t, they aren’t. A new survey of retirement plan sponsors, financial advisors, and plan participants show little interest among plan participants to invest...more

Lathrop GPM

Cryptocurrency as a 401(K) Plan Investment Option

Lathrop GPM on

Fidelity Investments recently announced it is making a Bitcoin account available as an investment option for 401(k) plans, fueling a debate about cryptocurrencies and fiduciary responsibilities under ERISA. In what might...more

Cadwalader, Wickersham & Taft LLP

DOL Warns Sponsors against Permitting Cryptocurrency-Related Investments on 401(k) Plan Investment Menus

The U.S. Department of Labor (“DOL”) last month issued Compliance Assistance Release No. 2022-1 - 401(k) Plan Investments in “Cryptocurrencies” (the “Release”) in which it strongly cautions ERISA plan fiduciaries to use...more

Keating Muething & Klekamp PLL

Benefits Monthly Minute - March 2022

In the March Monthly Minute, we review IRS proposed regulations implementing the SECURE Act, DOL guidance on cryptocurrency investments, and the extended National Emergency “Outbreak Period” guidance. Crypto-Curious vs....more

Nelson Mullins Riley & Scarborough LLP

Fiduciaries versus FOMO: Department of Labor Releases 401(k) Cryptocurrency Guidance

Regulators may be nervous about workers staking their retirements on crypto. The United States Department Labor’s Employee Benefits Security Administration (the “DOL”) recently issued Compliance Assistance Release No. 2022-01...more

Proskauer - Blockchain and the Law

Cryptocurrency in 401(k) Plans? Might be More Like “Crypto-nite,” Says the DOL in Its Latest Release

Kryptonite is a fictional substance that causes the mighty Superman to lose all his strength. According to a recent release from the U.S. Department of Labor Employee Benefits Security Administration (“DOL”), cryptocurrency...more

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