The U.S. final rule allowing cryptocurrency and other alternative assets into 401(k) retirement plans has been submitted to the White House for review.

On November 6, Bloomberg Law reported that the U.S. Department of Labor's final rule aimed at easing restrictions on including alternative assets such as private equity, real estate, and cryptocurrency in 401(k) retirement savings plans was submitted to the White House Office of Information and Regulatory Affairs (OIRA) for review on November 5, indicating that the rule is nearing completion and official publication.

The DOL previously proposed the draft rule on March 30, aiming to provide legal safe harbor protection for fiduciaries who include alternative assets in their investment menus, provided they meet six evaluation criteria: investment performance, fees, liquidity, valuation, performance benchmarks, and complexity.

The rule remains under final review and has not officially taken effect.