DOL issued Compliance Assistance Release cautions 401k plan fiduciaries to exercise extreme care before allowing participants to invest assets in cryptocurrencies because they present significant risks to participants’ retirement accounts
Cryptocurrency in 401k plans may prove to be a loss for retirement security. DOL issued Compliance Assistance Release No. 2022-01 to caution plan fiduciaries to be careful before considering whether to include investment options like cryptocurrency as part of a 401k plan.