Trump Pushes Crypto Access in 401(k) Retirement Plans as Labor Rule Enters Final Review

The proposal has faced opposition from Democratic lawmakers who question the protections available to retirement savers. Senators Elizabeth Warren and Bernie Sanders, alongside Representative Bobby Scott, urged Labor in June to withdraw the plan, citing risks associated with digital assets and private investments.

In their letter, the lawmakers warned that the proposal “would compound, rather than address, the problem” of protecting retirement savings. They argued that plans should focus on costs, stability and safety rather than exposing workers to products carrying higher fees or greater uncertainty.

Separately, Labor reversed its earlier policy on cryptocurrency in May 2025. It withdrew guidance from 2022 that had urged retirement-plan managers to exercise “extreme care” when considering crypto. The department said it would neither endorse nor reject an investment solely because it involved digital assets.

The White House review is the next step before Labor can publish its final rule. Even after publication, employers and plan managers would still decide which investments to offer, following their duties under federal retirement law.

ALSO READ: Why Pension Funds are Exploring Bitcoin Investments