This guidance comes as more 401(k) plan service providers have announced their intention to make digital currencies available on their platforms. While the DOL has not taken a definitive position, it has expressed concern with cryptocurrencies being made available to 401(k) plan participants. Traditionally, cryptocurrencies have not been commonly available as investment options for 401(k) plans. These options will allow businesses of all sizes to make cryptocurrencies part of their 401(k) plan’s investment menu and may also signal an emerging industry trend. Cryptocurrencies present fiduciaries an interesting opportunity to offer a diversified plan investment lineup and to respond to participant interest in such assets.

Source: CNN May 13, 2022 17:52 UTC