Bitcoin Magazine Rule to Allow Crypto in 401(k)s Arrives at White House for Final Review
A final DOL rule that would ease alternative assets such as private equity, real estate and cryptocurrency into 401(k) retirement plans arrived at the White House on Thursday for review, Bloomberg Law reported , a procedural step that usually precedes public release.
The Office of Information and Regulatory Affairs logged the package on Nov. 5 under the title “Fiduciary Duties In Selecting Designated Investment Alternatives,” RIN 1210-AC38. The filing lists the DOL’s Employee Benefits Security Administration as the authoring office, marks the stage as a final rule, flags it as economically significant and notes that there is no legal deadline for completion.
The DOL unveiled the proposal on March 30. In that draft, plan fiduciaries who follow a documented process when adding private assets to a 401(k) menu would get a legal safe harbor under the Employee Retirement Income Security Act of 1974.
Source: Bitcoin Magazine
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