US White House reviews rule on crypto access in 401(k) plans

Retirement savers could gain broader exposure to alternative investments as federal regulators reconsider the rules governing 401(k) plan managers.

The White House has begun reviewing a US Department of Labor rule that could make it easier for employers to include cryptocurrency and other alternative assets in 401(k) retirement plans. Submitted on 5 November, the final rule covers investments such as private equity, real estate and digital assets. The review is listed by the Office of Information and Regulatory Affairs under identification number 1210-AC38.

The regulatory initiative builds on a March proposal intended to clarify the responsibilities of retirement plan fiduciaries when selecting alternative investments. It identifies six factors for evaluating investment options: performance, fees, liquidity, valuation, benchmarking and investment complexity. The proposed framework also establishes a process-based safe harbour under which fiduciaries could receive greater legal protection when making investment selection decisions, provided they follow the specified assessment process.

The review advances an executive order signed by President Donald Trump on 7 August 2025, which directed federal agencies to reconsider restrictions on alternative investments in retirement accounts. In May 2025, the Department of Labor also withdrew its 2022 guidance, which had urged fiduciaries to exercise extreme caution when considering cryptocurrency investments, reaffirming that existing federal retirement laws do not prohibit any specific category of investment.