Crypto 401(k) Provider Loses Challenge to Labor Agency Guidance

A federal judge has dismissed a case challenging US Labor Department guidance that warns workplace 401(k) plans against the dangers of cryptocurrency investing.

US District Court for the District of Columbia Judge Christopher R. Cooper granted the DOL’s motion to dismiss Tuesday in a case crypto 401(k) provider ForUsAll Inc. brought against the department last year. The judge found ForUsAll failed to prove that vacating the guidance would renew customer interest and that the guidance didn’t amount to a final agency action.

The case was a key challenge to the Biden administration’s attempt to block workplace 401(k)s from funneling worker ...