SLOWLY THEN SUDDENLY..............
Department of Labor Rescinds 2022 Guidance Against Cryptocurrency in 401(k) Plans: The Department of Labor (DOL) recently rescinded its 2022 guidance that cautioned fiduciaries against offering participants a choice to invest in cryptocurrency in 401(k) plans. This action returns the DOL to a neutral approach on cryptocurrency investments; however, the department is stressing that plan fiduciaries must still exercise prudence when evaluating such options. In 2022, the DOL warned about significant risks that cryptocurrency investments present to participants' retirement accounts and advised fiduciaries to exercise "extreme care before they consider adding a cryptocurrency option to a 401(k) plan's investment menu for plan participants." The extreme care standard is not found in the Employee Retirement Income Security Act and differs from ordinary fiduciary principles outlined in the law. The updated guidance applies to a wider range of digital assets like tokens, coins, crypto assets, and any derivatives thereof. Compliance Assistance Release No. 2025-01.
chriso 🇺🇸🥩🇦🇺🦘 / chriso
npub147…djwdr
2025-06-12 21:15:26
Author Public Key
npub147wy3decmxy3vs9u4nse80ha7nkcydt7zdge8lc9gk8ddglh4t6qudjwdrPublished at
2025-06-12 21:15:26Event JSON
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"content": "SLOWLY THEN SUDDENLY..............\n\nDepartment of Labor Rescinds 2022 Guidance Against Cryptocurrency in 401(k) Plans: The Department of Labor (DOL) recently rescinded its 2022 guidance that cautioned fiduciaries against offering participants a choice to invest in cryptocurrency in 401(k) plans. This action returns the DOL to a neutral approach on cryptocurrency investments; however, the department is stressing that plan fiduciaries must still exercise prudence when evaluating such options. In 2022, the DOL warned about significant risks that cryptocurrency investments present to participants' retirement accounts and advised fiduciaries to exercise \"extreme care before they consider adding a cryptocurrency option to a 401(k) plan's investment menu for plan participants.\" The extreme care standard is not found in the Employee Retirement Income Security Act and differs from ordinary fiduciary principles outlined in the law. The updated guidance applies to a wider range of digital assets like tokens, coins, crypto assets, and any derivatives thereof. Compliance Assistance Release No. 2025-01.\n\n",
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