Trump-Backed 401(k) Proposal for Crypto and Private Equity Clears White House Review
According to the latest update, the Labor Department proposal cleared White House OIRA review as an economically significant rule, potentially affecting access to crypto investments within the $12.5 trillion 401(k) market.
The U.S. Labor Department’s proposed rule to broaden how 401(k) fiduciaries evaluate alternative assets, including cryptocurrency and private equity, has cleared review by the White House Office of Information and Regulatory Affairs. The latest update states that OIRA classified the measure as an economically significant rule, estimating more than $200 million in annual impact, and that formal publication could come within weeks after revisions. The proposal could open the $12.5 trillion 401(k) market to new investment options. This follows the Labor Department’s earlier withdrawal of its 2022 guidance that had cautioned fiduciaries against offering crypto exposure in retirement plans.
- 401(k): A U.S. employer-sponsored retirement savings plan that lets workers invest for retirement, often through tax-advantaged accounts.
- Cryptocurrency: A digital asset that uses cryptographic systems and often blockchain networks to record transfers and ownership.
- OIRA: The White House Office of Information and Regulatory Affairs, which reviews significant federal regulations before publication.