The U.S. Department of Labor is warning that cryptocurrencies in 401(k) retirement plans might be a bad idea 😱
"Extreme volatility can have a devastating impact on participants, especially those approaching retirement and those with substantial allocations to crypto," the Department of Labor says.The U.S. Department of Labor is urging "extreme care" to be taken before crypto investments are offered in 401 retirement plans.
According to the department, the number of firms who are marketing crypto investments for 401 plans has risen in recent months — and officials fear this is too risky given the short history of digital assets, adding:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crypto poses serious 401(k) risks, Biden administration warnsThe U.S. Department of Labor warned employers that they could breach their legal duties by adding crypto investments to 401(k) plans.
Read more »
Crypto poses serious 401(k) risks, Biden administration warnsThe U.S. Department of Labor warned employers that they could breach their legal duties by adding crypto investments to 401(k) plans.
Read more »
US Labor Dept warns of crypto risks in retirement plansThe US Department of Labor has issued a compliance report outlining the importance of risk management when investing in cryptocurrencies using 401(k) retirement plans, stating that large exposure to digital assets may land fiduciaries in legal trouble.
Read more »
Crypto-Friendly Yoon Suk-yeol Wins South Korea Election | CoinMarketCap🚨 BREAKING NEWS: South Korea has elected a crypto-friendly president 🇰🇷 Yoon Suk-yeol wants to bring back initial coin offerings, roll back regulations, and increase the capital gains threshold for investors 🔥
Read more »
Bitcoin Up 9% as Biden Signs Crypto Executive Order | CoinMarketCapBack in the 2000s, millions used LimeWire to download bootlegged songs, TV shows and movies for free 😬 Now, 12 years after it was shut down by a U.S. court, it's making a comeback as an NFT marketplace 👀
Read more »
Crypto News, March 10: Bitcoin Wipes Wednesday's Gains | CoinMarketCapToday's news with ConnorSephton: Bitcoin wipes all of the gains it made on Wednesday, crypto bosses react to Joe Biden's executive order, and South Korea has a new, crypto-friendly president 👇
Read more »