The Department of Labor criticized Fidelity Investments\u2019 plan to allow investors to put bitcoin in their 401(k) accounts.<\/p>\n
\u201cWe have grave concerns with what Fidelity has done,\u201d Ali Khawar, acting assistant secretary of the Employee Benefits Security Administration. Khawar stressed the speculative nature of cryptocurrency and the hype around the fear of missing out as reasons his department is concerned about the move. Khawar has said that crypto has \u201cintriguing use cases\u201d but needs \u201cmaturing\u201d before it\u2019s suitable to be placed into a retirement savings account.<\/p>\n
The DOL cites crypto\u2019s volatility, uncertain valuations, and evolving regulatory environment as reasons for concern.<\/p>\n
<\/span><\/p>","protected":false},"excerpt":{"rendered":" The Department of Labor criticized Fidelity Investments\u2019 plan to allow investors to put bitcoin in their 401(k) accounts. \u201cWe have grave concerns with what Fidelity has done,\u201d Ali Khawar, acting assistant secretary of the Employee Benefits Security Administration. Khawar stressed … Continue reading