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Crypto in 401k Under Investigation

By June 13, 2022January 31st, 2024Uncategorized

The Department of Labor is scrutinizing crypto in retirement accounts governed by ERISA, which includes most 401k plans. The Department of Labor (DOL) claims crypto is speculative, volatile, and has risk related to fraud, theft, and loss. The DOL will be opening an investigation of ERISA retirement plans that offer the ability to invest in crypto.

On the bright side, people in Colorado will soon be able to use virtual currency to make state tax payments.