Can 401(k)s offer investments in crypto?

In 2022, the Department of Labor (DOL) issued a strong warning to retirement plan fiduciaries about offering investments in cryptocurrency. It did not bar the action, but advised “extreme caution.” The DOL rescinded the previous guidance, reminding fiduciaries to use the usual standards for evaluating investment options (i.e., consider all relevant facts and circumstances). The same reasoning and principles also apply to a wide range of “digital assets” including those marketed as “tokens,” “coins,” “crypto assets,” and any derivatives. #IdeaoftheDay