Fidelity’s $500,000 crypto settlement leaves IRAs outside wallet-transfer terms
Summary
Fidelity Digital Assets agreed to pay California $500,000 to settle potential claims over restrictions that prevented retail customers from transferring crypto off its platform from November 2022 through April 2025. Fidelity denies wrongdoing and admitted no legal violation. Transfers became available to all California customers by June 2025. The agreement requires reasonable written notice if Fidelity ends retail transfers, while allowing restrictions for security or account-protection reasons. Retirement and other tax-advantaged accounts are excluded from the transfer obligation. Fidelity plans to launch Crypto IRA accounts in California, but has set no date; its FAQ still says the product is unavailable there.
