A financial planning company allowing customers to include crypto in their 401(k) plans is suing the Federal government. In a new filing against the U.S. Department of Labor (DOL), the retirement firm ForUsAll says that the department is engaging in an “arbitrary and capricious” campaign against digital assets. The suit invokes the Administrative Procedure Act […]
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A Senator from Alabama is introducing a new bill that could potentially stifle the government from restricting top digital asset Bitcoin (BTC) and other cryptocurrencies as investment options for 401(k) retirement plans. Republican Senator Tommy Tuberville is unveiling the Financial Freedom Act of 2022, which would counter attempts by the U.S. Department of Labor (DOL) […]
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The U.S. Department of Labor (DOL) is reportedly having “grave concerns” about Fidelity Investments’ recent decision to launch Bitcoin (BTC) 401(k) plans. In a new Wall Street Journal (WSJ) interview, Acting Assistant Secretary of the DOL’s Employee Benefits Security Administration (EBSA) Ali Khawar acknowledges crypto has intriguing use cases but says it needs “maturing” before […]
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The U.S. Department of Labor (DOL) is warning investment firms to “exercise extreme care” before adding crypto to their retirement plans. In a new statement, the department says it has serious concerns about fiduciaries who expose 401(k) participants to crypto assets. “These investments present significant risks and challenges to participants’ retirement accounts, including significant risks […]
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