The US Department of Labor's proposed rule has passed White House review, which will determine whether retirement funds can invest in crypto assets

BlockBeats News, March 26, the U.S. Department of Labor's proposed rule aimed at changing the investment options in the domestic $10 trillion 401(k) market has passed White House regulatory review, bringing it one step closer to official release.

The Office of Information and Regulatory Affairs (OIRA) completed its review of the rule on March 24, paving the way for the Labor Department to formally publish the proposal in the coming weeks. If finalized, the rule would amend the trustee guidance for plans covered by the Employee Retirement Income Security Act, potentially allowing plan sponsors to include cryptocurrency and private equity in the designated investment options.

The proposal was made following an executive order signed by U.S. President Donald Trump last year, directing the Labor Department to make it easier for plans participant-directed defined contribution plans to include alternative assets.

The executive order also instructed the U.S. Securities and Exchange Commission, the Treasury Secretary, and other federal agencies to explore ways to facilitate alternative investments, including digital assets, in retirement plans.

During the review, OIRA classified the rule as having "economically significant" impact, triggering additional analysis under Executive Order 12866. This classification applies to regulations that are expected to have an annual impact on the economy of $100 million or more or that have a substantial impact on the economy. According to OIRA documents, there is no statutory deadline for the proposed rule.