ForUsAll, a 401(k) retirement provider, filed suit against the United States Department of Labor (DOL) and Martin Walsh as Labor secretary in U.S. District Court in Washington, D.C. on Thursday. The company is seeking the withdrawal of a DOL compliance assistance release issued
The U.S. Department of Labor (DOL) in March issued a controversial warning to 401(k) plan fiduciaries to “exercise extreme care” before considering adding cryptocurrencies to a retirement plan’s investment menu. Today, the agency is being sued for it. Source link
U.S. Sen. Elizabeth Warren has joined the Department of Labor in expressing concerns about Fidelity Investment's plans to offer bitcoin in its 401(k) retirement plans. Source link
The Fed is widely expected to raise the benchmark U.S. interest rates by 50 basis points (0.5 percentage point) at its May meeting next week. In a panel hosted by the International Monetary Fund (IMF) last week, Fed Chair Jerome Powell said that
Fidelity Investment’s plan to allow for the inclusion of bitcoin in its operated 401(k) accounts is facing headwinds from the U.S. Labor Department, which regulates company-sponsored retirement plans, according to a report from The Wall Street Journal. Source link
Web3 has given rise to a number of innovative business models. In particular, decentralized autonomous organizations (DAOs) have started gaining traction as Web3 as the creator economy comes to fruition. Natalie Salemink, CEO and founder of Prismatic — a tooling and treasury management platform
The US Department of Labor (DOL) has told 401(k) investors to "exercise extreme care" when dealing with cryptocurrencies and other digital assets citing fraud, theft, and financial loss as “significant risks”. In a compliance report, released on Thursday, the DOL offered a stark warning
The Labor Department said crypto presents “significant risks and challenges to participants’ retirement accounts, including significant risks of fraud, theft and loss.” It highlighted as reasons speculation and volatility, challenges to making informed investment choices, custodial and record-keeping concerns, the lack of reliability
