US Department of Labor Proposes Rule to Allow Cryptocurrencies in 401(k) Plans

The US Department of Labor has proposed a rule that would allow 401(k) fiduciaries to consider alternative investments, including cryptocurrencies, in retirement plans.

According to the proposal, fiduciaries who undergo a thorough review process for performance, fees, liquidity, valuation, benchmarking, and complexity would be granted a safe harbor if they follow this process.

This move is seen as a major shift in the retirement investment industry, which has historically been dominated by traditional assets such as stocks and bonds.