Crypto’s 401(k) Path Reaches White House Review

The Office of Information and Regulatory Affairs, the White House unit that reviews major rules, received the final-stage version of a Labor Department rule on 401(k) investment menus on November 5. The review record classifies it as economically significant and sets no legal deadline. The rule follows a March proposal that would give fiduciaries a process-based legal presumption if they weigh six factors, protecting how a menu decision is made rather than favoring specific products such as crypto. Under the Employee Retirement Income Security Act, fiduciaries including employers and appointed advisers can be sued over imprudent choices; the proposal cites litigation exposure as a reason for the safe harbor.