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DOL rule easing crypto and other alternatives into 401(k)s reaches White House review
Summary
A U.S. Department of Labor package that would clarify fiduciary duties when 401(k) plans add alternative assets—including cryptocurrency—has arrived at the White House Office of Information and Regulatory Affairs for review, Bitcoin Magazine and The Block reported, citing Bloomberg Law and the OIRA filing.
Bitcoin Magazine said OIRA logged the package on Nov. 5 as a final rule titled "Fiduciary Duties In Selecting Designated Investment Alternatives" (RIN 1210-AC38), flagged as economically significant with no legal deadline; The Block described the Thursday filing more generally as a proposal advancing Trump's executive order on alternative assets in 401(k)s.
Bitcoin Magazine said the March 30 draft would give plan fiduciaries a legal safe harbor under ERISA if they document a process covering performance, fees, liquidity, valuation, benchmarks and complexity—lowering litigation risk without forcing any plan to offer crypto.
Both outlets noted earlier DOL steps reversing Biden-era "extreme care" crypto guidance and Capitol Hill pushback from Sens. Bernie Sanders and Elizabeth Warren; The Block added that the Thursday filing said the department was still considering costs and benefits. The final text and effective date are not yet public.
Updates
- Update, : Update (Nov. 6, 3pm): Cointelegraph also covered the OIRA review, noting the March proposal names no specific coins or market-cap floor and that experts (Bellementis; Trace Finance) expect bitcoin and ether products—especially ETFs/managed funds that fit existing custody plumbing—to arrive before smaller tokens, which may fail prudence tests on track record, liquidity and benchmarks; one source estimated White House review can take up to 90 days before publication and a typical ~60-day effective date.
Key facts
- Bitcoin Magazine (Bloomberg Law / OIRA): package logged Nov. 5 as final rule RIN 1210-AC38, "Fiduciary Duties In Selecting Designated Investment Alternatives," economically significant, no legal deadline.
- The Block: DOL filed with OIRA Thursday to further Trump's executive order paving the way for alternative assets, including crypto, in 401(k) plans; filing said costs were still being considered.
- Bitcoin Magazine: March proposal's six-factor safe harbor covers performance, fees, liquidity, valuation, benchmarks and complexity; it does not require plans to offer crypto.
- Outlet note: Bitcoin Magazine calls the OIRA package a final rule; The Block's story frames the Thursday filing as a proposal—status wording differs while both agree the package is at White House review and not yet published.