The DoL issued a Compliance Assistance Release rescinding previous guidance for 401(k) plans offering cryptocurrency investment options. The earlier guidance told fiduciaries to exercise “extreme care before they consider adding a cryptocurrency option to a 401(k) plan’s investment menu for plan participants.” The new guidance adopts a neutral approach to crypto investments, instructing fiduciaries to consider all relevant facts and circumstances in deciding on plan investment offerings. #IdeaoftheDay
Barbara Weltman
Big Ideas for Small Business, Inc.
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