401(k)s Get a Crypto Makeover—But the White House Hasn’t Pressed “Send” Yet

The White House is reviewing a Labor Department rule that could allow cryptocurrency and other alternative assets in 401(k) retirement plans, according to the Office of Information and Regulatory Affairs. The proposal also covers private equity, real estate and other alternative investments.

The Labor Department submitted its final rule for review on November 5. The filing has identification number 1210-AC38 and is expected to be published after White House review. The agency announced proposed modifications in March, adding safeguards for retirement plan administrators and establishing six factors for fiduciaries evaluating investments.

The six factors are performance, fees, liquidity, valuation, benchmarks and complexity of investment. If the proposed review process is completed, plan managers would receive a legal presumption that they satisfy certain fiduciary duties when considering these assets.

The review does not currently change existing rules or guarantee retirement savers access to cryptocurrency. The White House action also follows President Donald Trump’s August 7, 2025 executive order directing regulators to reconsider retirement investment rules covering crypto and alternative assets.

Separately, the SEC recently outlined proposed changes to crypto broker-dealer rules, including capital requirements and customer protection standards.