Crypto 401(k) Warning Casts Shadow Over T. Rowe Price Settlement

Pressure is mounting on the U.S. Labor Department to back off its guidance against cryptocurrency investing because its implication for future brokerage window regulations has already imperiled one class action settlement.

The potential consequences of the anti-crypto guidance, issued by the department last month, have already prompted global money manager T. Rowe Price Group Inc. to pump the brakes on an $18 million class action settlement agreed to in January.

The windows, which give workers access to the broader investment market through tax-advantaged retirement plans, are becoming a routine concession as plan sponsors fend off a rising tide of excessive ...