Article | 06.24.22
First Crypto 401(k) Coming, Defying Labor Department Warnings
ForUsAll Inc. will “later this summer” launch an Alt 401(k) product that lets employee investors transfer up to 5 percent of their nest eggs directly into more than 50 different cryptocurrencies. The rollout will likely transform what has, until now, been a theoretical showdown between fintech firms and federal regulators over the role of digital assets in employer-sponsored retirement plans. ForUsAll is poised to become a test case for whether crypto holdings help or hurt employee portfolios and just how serious the U.S. Department of Labor is in its anti-crypto stance.
Read the full article on Bloomberg Law