News & Analysis as of

Retirement Plan Department of Labor (DOL) Bitcoin

McAfee & Taft

Bitcoin ETFs and workplace retirement plans: DOL has ‘serious concerns’

McAfee & Taft on

The U.S. Securities and Exchange Commission (SEC) recently approved applications from large investment firms to offer spot bitcoin exchange-traded funds (ETFs). Retail investors can now buy bitcoin ETFs on traditional...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Bitcoin will be visited again

Despite my concerns about allowing crypto options in 401(k) plans, that issue will be back for us. As Bitcoin is at $37,000 and rising, there is expected approval of Bitcoin Exchange Traded Funds....more

Kerr Russell

A Fair Warning: 401(k) Plan Sponsors May be Hard-Pressed to Defend Addition of Cryptocurrency Investment Option

Kerr Russell on

The U.S. Department of Labor (DOL) published guidance earlier this year warning fiduciaries who administer retirement plans to “exercise extreme care” when considering whether to include cryptocurrency as a plan investment...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Bill introduced to add Bitcoin to 401(k)

I keep on saying that timing is everything and with Bitcoin falling about 60% off its high, this isn’t the time for adding it to 401(k) plans. In May, Rep. Byron Donalds (R-FL) introduced a bill that would allow Bitcoin and...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

DOL has grave concern over Fidelity bitcoin decision

The Department of Labor criticized Fidelity Investments’ plan to allow investors to put bitcoin in their 401(k) accounts....more

Parker Poe Adams & Bernstein LLP

DOL Warns Employers About Including Cryptocurrency in 401(k) Plan Investment Options

Late last month, Fidelity Investments created a minor firestorm when it announced that it would allow retirement plan sponsors to offer bitcoin as an investment option for participants. In reaction to this move, the...more

Goodwin

Cryptocurrencies As Investment Options In 401(k) Plans

Goodwin on

On March 10, 2022, the U.S. Department of Labor (“DOL”) issued a Compliance Assistance Release (the “Release”) addressing its views on the availability of cryptocurrencies on 401(k) investment platforms. This guidance comes...more

Holland & Hart - The Benefits Dial

Every Little Thing … Considerations Before Adding Crypto to a 401(k) Plan

Fidelity Investments recently announced that it will offer its 401(k) plan clients the opportunity to offer bitcoin as a 401(k) plan investment option later this year. While this may sound intriguing to some plan fiduciaries...more

Snell & Wilmer

To the Moon After All? DOL Targets Cryptocurrency in Retirement Plans

Snell & Wilmer on

In Compliance Assistance Release No. 2022-01 (the “Release”), the Department of Labor (the “Department”) signaled its intention to scrutinize inclusion of cryptocurrency assets and crypto-derivative products as investments in...more

Dorsey & Whitney LLP

DOL Warns 401(k) Plan Fiduciaries about Cryptocurrency Investments

Dorsey & Whitney LLP on

Investments in Cryptocurrencies such as Bitcoin and Ethereum are becoming more and more mainstream. Driven by outrageous returns, and presenting outrageous volatility and risk, both traditional institutional and individual...more

Robins Kaplan LLP

Financial Daily Dose 4.19.2021 | Top Story: Bitcoin Plummets In Correction Following Coinbase’s Public Debut

Robins Kaplan LLP on

Because volatility’s the name of the game whenever we’re talking cryptos, it’s hard to be too shocked by the news that last week’s banner Coinbase public market debut gave way to a digital currency walkback this weekend that...more

Goodwin

Financial Services Weekly Roundup: The CFPB Digs Into “Seasoned” Qualified Mortgages

Goodwin on

In the News. The Consumer Financial Protection Bureau (CFPB) issued a notice of proposed rulemaking to create a new category of “seasoned” qualified mortgages; the Securities and Exchange Commission’s (SEC) Office of...more

Goodwin

Financial Services Weekly News - February 2017 #2

Goodwin on

Editor's Note - No Short-Term Fixes. On February 3, President Trump signed an Executive Order and a Presidential Memorandum intended to provide a framework to “roll back” the Dodd-Frank Act (Dodd-Frank) and to review the...more

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