White House Clears Review Of Rule To Allow Crypto In $10 Trillion 401(k) Market
The US Department of Labor's proposed rule to allow cryptocurrency investments in 401(k) retirement plans has cleared White House regulatory review. The rule, titled "Fiduciary Duties in Selecting Designated Investment Alternatives," would amend guidance under the Employee Retirement Income Security Act (ERISA), potentially enabling plan sponsors to include cryptocurrencies and private equity as investment options. This action rescinds a 2022 guidance that discouraged such investments due to perceived risks. The proposal, marked as "economically significant," follows a Trump executive order directing agencies to reduce barriers to alternative assets in retirement accounts. A public comment period is expected before a final rule is issued, opening access to the $10 trillion retirement market for crypto.
bitcoinist03/27 09:33
