Fisher Phillips Partners Author Article on Lawsuit Centered on Crypto 401(k)s

Publication

9.27.22

In a bylined article published in The Banking Law Journal, Phillip Bauknight and Ron Pierce provide a detailed description of a lawsuit against the U.S. Department of Labor (DOL) alleging that federal officials are improperly restricting investment options by warning fiduciaries against including cryptocurrency in their 401(k) plans. They explain that the guidance from the DOL made it clear that fiduciaries who are considering including cryptocurrencies within 401(k) menu options would need to conduct a thorough evaluation before offering crypto and should expect an EBSA investigation if they decide to include such an offer. They urge companies that choose to include cryptocurrencies or other digital assets in their 401(k)-investment menu to keep EBSA’s scrutiny in mind.

To read the article visit The Banking Law Journal.