FF5 #64 - DOL Updates Guidance on Cryptocurrency in ERISA Plans

In this episode of Friday Fiduciary Five, Eric Dyson talks about the Department of Labor's (DOL) Compliance Assistance Release 2025-01, effective May 28, 2025, which rescinds previous DOL and EBSA guidance on cryptocurrency in 401(k) plans.  The DOL clarifies that the "extreme care" standard mentioned in the 2022 release does not exist in ERISA; instead, it refers to the duty of loyalty and prudence. Eric remains skeptical about including cryptocurrencies in 401(k) plans until evidence shows improved participant outcomes. He emphasizes that sophisticated investors should handle such investments individually, not through their 401(k) plans, to avoid overly complex investments for the average employee.Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: [email protected] LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes.It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice, or legal advice.The specific facts and circumstances of all qualified plans can vary, and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.