ICI Statement on DOL Guidance on Holding Cryptocurrency in 401(k) Plans

Washington, DC; May 28, 2025—Today, the Investment Company Institute (ICI) issued the following statement after the Department of Labor rescinded previous guidance from 2022 on holding cryptocurrency in 401(k) plans.

“ICI applauds the Department of Labor for rescinding its guidance on holding cryptocurrency in 401(k) plans. As we noted in 2022, the prior guidance was inconsistent with law and lacked a legal basis. The choice to include cryptocurrency in retirement plan investments or not should be left up to the plan fiduciaries, who are in the best place make decisions. Thanks to DOL's action today, they are once again free to set their course under the long-standing ERISA fiduciary standards of prudence and loyalty.”