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Labor Department Criticizes Fidelity’s Plan to Put Bitcoin on 401(k) Menu
The Wall Street Journal; subscription may be required Link to more items from this source
Apr. 29, 2022

"[Fidelity] said it planned to cap transfers and new contributions to its bitcoin offering at 20% of 401(k) account balances and payroll contributions. [Acting Assistant Secretary for EBSA Ali Khawar] said he and his colleagues have scheduled a conversation with Fidelity to discuss some of the concerns that were highlighted in the March 10 guidance. Among the department's specific concerns was the 20% figure ... Mr. Khawar said the [DOL] has similar concerns with an offering from ForUsAll Inc.[.]"

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