{"id":8091,"date":"2025-06-18T07:33:21","date_gmt":"2025-06-18T11:33:21","guid":{"rendered":"http:\/\/therosenbaumlawfirm.com\/blog\/?p=8091"},"modified":"2025-06-18T07:33:21","modified_gmt":"2025-06-18T11:33:21","slug":"well-that-didnt-take-long-in-whats-becoming-a-routine-political-tug-of-war-the-trump-administration-yes-back-again-has-rescinded-the-biden-era-department-of-labor-dol-guidan","status":"publish","type":"post","link":"http:\/\/therosenbaumlawfirm.com\/blog\/?p=8091","title":{"rendered":"Well, that didn\u2019t take long.  In what\u2019s becoming a routine political tug-of-war, the Trump administration (yes, back again) has rescinded the Biden-era Department of Labor (DOL) guidance cautioning plan sponsors against offering cryptocurrency in 401(k) plans. To quote every compliance officer I\u2019ve ever met: here we go again.  Now let me be clear\u2014I love crypto. I believe in decentralization, innovation, and financial technology that isn\u2019t stuck in the Stone Age of paper checks and fax machines. I think crypto has a role to play in the future of retirement planning. But like any shiny new object in the retirement space, it needs to be handled with a mix of curiosity, caution, and common sense.  Just because the DOL has backed off doesn\u2019t mean you should go rushing to throw Bitcoin into your investment lineup like it\u2019s a Target Date Fund. Fiduciary responsibility doesn\u2019t vanish with a policy shift. ERISA didn\u2019t change overnight.  If I were ever to offer crypto in a 401(k)\u2014and I\u2019m not saying I would, just if\u2014I certainly wouldn\u2019t do it through some fly-by-night crypto wallet company that promises the moon, charges you the stars, and stores your coins on a server in someone\u2019s basement. No, I\u2019d use a trusted custodian\u2014someone with experience, infrastructure, insurance, and a track record of not disappearing when the market tanks.  Because let\u2019s not forget: plan sponsors have a duty of prudence. That means understanding what you\u2019re offering, why you\u2019re offering it, and how it fits into the larger plan structure. Offering crypto in a plan isn\u2019t inherently imprudent\u2014but doing it with the wrong partner absolutely is.  So while the political pendulum swings, let\u2019s remember our job hasn\u2019t changed. We\u2019re still here to protect participants, build smart plans, and avoid ending up as the cautionary tale at the next ASPPA conference.  Stay curious. Stay cautious. And please\u2014if you\u2019re going to offer crypto in a 401(k), don\u2019t let a Reddit thread be your due diligence."},"content":{"rendered":"<p>Absolutely. Here\u2019s your piece in the voice of Ary Rosenbaum\u2014refined for tone, rhythm, and clarity while keeping the conversational, legal-insider style you\u2019re known for.<\/p>\n<p>When I was in law school, I was the editor of the student magazine. One semester, I broke a story about a scandal at one of the law journals. The editor-in-chief of that journal\u2014who didn\u2019t appreciate the spotlight\u2014handed me a letter from her attorney. It asked for my sources, who I talked to, what I knew, and everything but my name, rank, and serial number. It was the first time I was ever threatened with a lawsuit, and I\u2019ll be honest: I was hyperventilating.<\/p>\n<p>Then I looked down at my desk and noticed something interesting\u2014the work number for this editor-in-chief was the same number listed for her attorney. Turns out, this \u201cattorney\u201d was someone who practiced international law, not libel. That taught me two things very quickly: First, people will weaponize the appearance of legal muscle even when there\u2019s no bite behind the bark. Second, a lawyer\u2019s letter is often more about pressure than position.<\/p>\n<p>Fast-forward to today: I write an annual article (except, notably, the 16th annual edition this June) about payroll providers and third-party administrators. More than once, I\u2019ve been threatened with litigation over it. Clients, non-clients, industry players\u2014they all seem to have a lawyer on speed dial when the truth gets a little too uncomfortable.<\/p>\n<p>Sometimes these threats are real\u2014especially when there\u2019s actual liability exposure. But most of the time, it\u2019s a tactic, a scare move meant to get you to back off or shut up. When I got that letter in law school, I gave it to the Dean. His advice? \u201cSettle immediately.\u201d That was lousy advice. Here\u2019s better: when you get a letter from a lawyer, speak to a lawyer. A good one will help you figure out if it\u2019s a bluff or a bomb.<\/p>\n<p>I get it\u2014lawyers are expensive. Except me. But the worst mistake you can make is thinking you can handle a legal threat on your own.<\/p>\n<p>A lawyer letter is like a hand in poker\u2014sometimes it\u2019s a bluff, sometimes it\u2019s four aces. You need someone who knows how to read the table and tell you what\u2019s real. If you get one of those letters, you know where to find me.<\/p>\n<div class=\"sharedaddy sd-sharing-enabled\"><\/div>\n<p><span class='st_sharethis' st_title='{title}' st_url='{url}' displayText='ShareThis'><\/span><\/p>","protected":false},"excerpt":{"rendered":"<p>Absolutely. Here\u2019s your piece in the voice of Ary Rosenbaum\u2014refined for tone, rhythm, and clarity while keeping the conversational, legal-insider style you\u2019re known for. When I was in law school, I was the editor of the student magazine. One semester, &hellip; <a href=\"http:\/\/therosenbaumlawfirm.com\/blog\/?p=8091\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n<p><span class='st_sharethis' st_title='{title}' st_url='{url}' displayText='ShareThis'><\/span><\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/8091"}],"collection":[{"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8091"}],"version-history":[{"count":1,"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/8091\/revisions"}],"predecessor-version":[{"id":8092,"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/8091\/revisions\/8092"}],"wp:attachment":[{"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8091"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8091"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8091"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}