I wouldn’t try reading too much into the DOL crypto guidance

Ary Rosenbaum - The Rosenbaum Law Firm P.C.
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Ary Rosenbaum - The Rosenbaum Law Firm P.C.

One of the problems with a Department of Labor (DOL) guidance, there are certain professionals who read too much into things.

Quite honestly, the DOL’s wariness of a crypto brokerage window doesn’t mean that they have a change of view of normal brokerage windows. Cryptocurrency is unregulated and prone to huge price swings. Investments in normal brokerage windows are. While I don’t think there will be a change, I have always felt that the Dol should formulate criteria for the setup and oversight of these windows with liability protection for the plan sponsors that offer it.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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