A recent release by the DOL raising concerns about plan sponsors allowing cryptocurrency investments in 401(k) plans has gotten the attention of both sides of the Congressional aisle as well as industry groups. Some of the reactions to the release have sought to convince the DOL to take a step back, but the DOL has indicated on several occasions that it has no intention of doing so. On March 10, 2022, the DOL issued Compliance Assistance Release No. 2022-21 (the “Release”), which laid out the DOL’s skepticism on the prudence of cryptocurrency investments in 401(k) plans, including through brokerage windows that ... (full story)