A US Department of Labor proposal addressing alternative assets, including cryptocurrencies, in 401(k) retirement plans reached the White House for review, The Block reported on November 6, 2026. The filing was a step in the regulatory process, not a final rule taking effect.
Proposal focuses on retirement-plan fiduciaries
The department submitted the proposal on Thursday to the Office of Information and Regulatory Affairs (OIRA), part of the White House Office of Management and Budget, which reviews federal regulations before publication.
The proposal advances President Donald Trump’s executive order directing the department to pave the way for alternative assets in 401(k) plans. In its filing, the department said the clarification should identify criteria that fiduciaries can use to prudently balance potentially higher expenses against the objectives of greater long-term net returns and broader investment diversification.
The department said it was still considering the costs when describing the proposal’s costs and benefits.
Earlier policy changes and congressional objections
The submission followed an initial Labor Department rule, unveiled months earlier, outlining steps for 401(k) plan managers considering alternative assets such as digital assets and private equity.
The department had also reversed earlier guidance discouraging retirement managers from considering cryptocurrency as a 401(k) investment option. That guidance reflected concerns raised during the Biden administration.
The initiative faced scrutiny in Congress. Earlier in 2026, Senators Bernie Sanders and Elizabeth Warren urged the department to scrap the rule, arguing that it would expose retirement investors to volatile assets, including cryptocurrencies.
Original source: The Block. Published: November 6, 2026, at 18:28:34 UTC (November 7 at 02:28:34 UTC+8).