Trump administration moves closer to allowing crypto in 401(k) retirement plans

判断

OIRA reviewers now decide whether to clear DOL's 401(k) crypto proposal; if cleared, plan fiduciaries must decide whether the clarified criteria justify adding crypto despite potentially higher expenses.

依据

The Department of Labor filed a proposal Thursday with the White House Office of Information and Regulatory Affairs, which reviews federal regulations before publication, to further President Trump's executive order directing DOL to pave the way for alternative assets in 401(k) plans. DOL said the clarification "must aim to identify the criteria that fiduciaries should use to prudently balance potentially higher expenses against the objectives of seeking greater long-term net returns and broader diversification of investments." It follows DOL's initial rule and its reversal of guidance discouraging crypto in 401(k)s. Sens. Bernie Sanders and Elizabeth Warren pushed DOL to scrap the rule, saying it would expose investors to volatile assets including crypto. In the filing, DOL said it was still considering the costs.