US Labor Department’s Final Rule on 401(k) Alternative Assets Enters White House Review
Summary
- The US Labor Department’s final rule on alternative-asset investments for 401(k) plans has entered White House review.
- If finalized, the rule could broaden access for US retirement funds to invest in virtual assets (cryptocurrencies).
- The final rule’s specific provisions and the scope of permitted cryptocurrency investment have not yet been disclosed.
Forecast Trend Report by Period
The US Labor Department’s final rule on alternative-asset investments in 401(k) retirement plans has entered White House review. If finalized, the rule could broaden access for US retirement funds to invest in virtual assets, or cryptocurrencies.
Cointelegraph reported on November 6 that the Labor Department’s final rule on 401(k) alternative-asset investments has been submitted to the White House and is undergoing a final review ahead of an official announcement.
The rule concerns alternative-asset investments in 401(k) retirement plans and is also linked to whether those plans may invest in cryptocurrencies, including Bitcoin.
The final rule’s specific provisions and the scope of permitted cryptocurrency investment have not yet been disclosed. The rule is scheduled to be announced after the White House completes its review.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.