DOL Retracts 2022 Cryptocurrency Guidance for 401(k) Plans
June 12, 2025
On May 28, 2025, the U.S. Department of Labor (DOL) rescinded its 2022 guidance that warned retirement plan fiduciaries to exercise “extreme care” when offering cryptocurrency investments in 401(k) plans. The new stance reflects a more neutral approach, though fiduciaries are still bound by their core duties under ERISA to act prudently and in the best interest of plan participants. While the DOL no longer discourages crypto investment explicitly, fiduciaries must carefully assess and monitor such options, documenting their decision-making thoroughly. This change may pave the way for more crypto offerings in retirement plans, depending on demand and fiduciary comfort.
Read the full update.
