United States of America: Department of Labor issues warning on investments in "Cryptocurrencies" using retirement plans

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Description

Department of Labor issues warning on investments in "Cryptocurrencies" using retirement plans

On 10 March 2022, the United States Department of Labor (DOL) released a warning to entities advertising investments in cryptocurrencies as an option for individuals' retirement plans. The DOL outlined the risks that investments in crypto assets may pose and cited the volatility of crypto investments, the difficulty of making informed investment decisions, custodial and valuation concerns, and the fact that the regulatory environment around crypto is evolving. Furthermore, the DOL noted that entities offering crypto investments could be subject to an investigative program.

Original source

Scope

Policy Area
Other operating condition
Policy Instrument
Consumer protection regulation
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
central government

Complete timeline of this policy change

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2022-03-10
adopted

On 10 March 2022, the United States Department of Labor (DOL) released a warning to entities advert…