This makes Fidelity the first major plan provider – though almost certainly not the last – to allow trading in Bitcoin.
Fidelity can make Bitcoin available on its platform, but it’s up to your plan fiduciary to decide whether having cryptocurrency in your 401 is in the best interest of you and other participants, or whether to offer you other notraditional investments, for that matter.
The tax regime surrounding cryptocurrency is still very much a work in progress, and if you’ve ever had to report crypto gains or losses on your tax return, you’re no doubt well aware of how burdensome the recordkeeping can be.
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