U.S. Department of Labor final rule opening 401(k) plans to crypto reached White House review.

U.S. Department of Labor final rule opening 401(k) plans to crypto reached White House review.

The package was logged at the Office of Information and Regulatory Affairs on Nov. 5 as RIN 1210-AC38, titled "Fiduciary Duties In Selecting Designated Investment Alternatives", per posts citing Bloomberg Law and the Reginfo entry.

It implements Executive Order 14330 on Democratizing Access to Alternative Assets for 401(k) Investors, covering crypto plus private equity and real estate.

It would give plan fiduciaries a process-based safe harbor for adding actively managed funds holding those assets, based on six factors: performance, fees, liquidity, valuation, benchmarks and complexity.

It does not require any plan to offer crypto, it lowers litigation risk for employers that choose to add it.

OIRA review is the last checkpoint before Federal Register publication. Text is not public yet, OIRA has up to 90 days.