Blockchain Association backs US rule to allow crypto in 401(k) plans

The Blockchain Association submitted a letter on June 1 supporting a U.S. Department of Labor proposal to allow cryptocurrency investments in 401(k) retirement plans. The proposed rule is designed to implement President Donald Trump's Executive Order 14330, which focuses on expanding investor access to alternative assets within 401(k)s. Through the proposal, the department reaffirmed its position that the Employee Retirement Income Security Act (ERISA) does not discriminate against any particular asset class for investment. The association argued that the rule gives workers the same opportunity as institutional and professional investors to gain exposure to the digital asset economy, should a plan fiduciary deem it appropriate. It also noted that ERISA provides fiduciaries with an asset-neutral standard, which allows for digital asset exposure as part of a balanced retirement portfolio.