U.S. Labor Department Crypto 401(k) Rule Advances After White House Review

The U.S. Department of Labor has moved closer to formally proposing a rule that could reshape investment options in the nation’s $10 trillion 401(k) market, after the measure cleared review by the White House Office of Information and Regulatory Affairs (OIRA).

According to the filing, OIRA concluded its review on March 24, allowing the Labor Department to publish the proposal in the coming weeks. If adopted, the rule would revise fiduciary guidance under the Employee Retirement Income Security Act (ERISA), potentially allowing plan sponsors to include cryptocurrency and private equity as designated investment alternatives in participant-directed retirement plans.

The proposal follows an executive order signed by U.S. President Donald Trump last year instructing the Labor Department to support broader access to alternative assets in defined-contribution retirement plans. The order also directed the U.S. Securities and Exchange Commission (SEC), the U.S. Treasury Department, and other federal agencies to explore pathways for expanding retirement plan access to alternative investments, including digital assets.

Rule Classified as “Economically Significant”

In its review, OIRA classified the proposed rule as “economically significant,” a designation under Executive Order 12866 reserved for regulations expected to have an annual economic impact of $200 million or more, or those considered likely to materially affect the economy.

The classification requires additional regulatory analysis before publication but signals the potential scale of the proposal’s impact, particularly given the size of the U.S. retirement market.

At this stage, the rule has no legal deadline for finalization, according to the OIRA filing.

Potential Shift for Crypto in Retirement Portfolios

If finalized, the proposal could mark one of the most consequential U.S. policy shifts for digital assets in retirement planning, creating a pathway for crypto exposure داخل employer-sponsored retirement accounts that have historically remained limited under existing fiduciary interpretations.

Such a move would also align with broader policy efforts to normalize access to alternative investments across traditional savings vehicles, particularly as U.S. regulators and policymakers continue to evaluate the role of digital assets in mainstream finance.

Retirement Savings Reach Record Levels

The regulatory development comes as U.S. retirement savings continue to grow.

According to Fidelity Investments, the average 401(k) balance reached a record $144,400 in the third quarter of 2025, up 9% year-over-year. The firm also reported that the average individual retirement account (IRA) balance rose 7% over the same period to $137,902.

The data underscores the scale of the market that could eventually be affected if the Labor Department finalizes new guidance allowing alternative assets such as crypto and private equity into retirement plan menus.

Why It Matters

A finalized rule would not automatically require 401(k) plans to offer crypto or private equity, but it could remove a key regulatory barrier for plan sponsors considering these assets.

For the digital asset sector, the proposal represents another sign that U.S. policymakers are increasingly examining how crypto can be integrated into long-term wealth and retirement infrastructure, beyond trading and speculative use cases.