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U.S. Department of Labor Expresses ‘Grave Concerns’ Over Fidelity’s Proposed Bitcoin 401(k) Plans: Report

U.S. Department of Labor Expresses ‘Grave Concerns’ Over Fidelity’s Proposed Bitcoin 401(k) Plans: Report

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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Crypto Investments Carry ‘Significant Risks of Fraud, Theft, and Loss,’ Says U.S. Department of Labor

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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