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Home Tech Crypto First company-sponsored Bitcoin retirement plans launched in US

First company-sponsored Bitcoin retirement plans launched in US

Document Analysis NLP IA

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neutral
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objective
redaction

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it's an affirmation
Affirmation0.50877192982456

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Summary (IA Generated)

-based asset manager, Digital Asset Investment Management (DAiM), has launched the country’s first employer-sponsored 401(k) retirement plans supporting Bitcoin.

DAiM’s crypto-friendly plans are compliant with the Employee Retirement Income Security Act of 1974, and will be able to be offered by employers from 2021.

S.

citizens have been able to include crypto assets in their individual retirement accounts, 401(k) rollovers, and brokerage accounts since the Internal Revenue Service began taxing Bitcoin in 2018, DAiM COO Adam Pokornicky told Cointelegraph that, “It’s been impossible to offer Bitcoin inside actually company-based plans until now.

“.

Pokornicky said that the traditional wealth management industries have been “slow to warm up to Bitcoin,” noting there are “barely any investment advisors offering licensed and regulated access to Bitcoin directly in brokerage and retirement accounts.


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