DOL Rescinds 2022 Guidance on Cryptocurrency in 401(k) Plans

The Secretary of Labor, Lori Chavez-DeRemer has announced that the Department of Labor (DOL) has rescinded a 2022 compliance release that discouraged fiduciaries from including cryptocurrency options in 401(k) retirement plans.

By revoking the 2022 guidance, the DOL reasserts its neutral position, neither supporting nor opposing plan fiduciaries who determine that including cryptocurrency in a plan’s investment menu is suitable.