Wu Says Daily Selected Crypto News - U.S. Department of Labor proposes new regulations to clarify the assessment and compliance framework for 401(k) included in alternative assets

1. U.S. Department of Labor proposes new rules to define an assessment and compliance framework for bringing 401(k) plans into alternative assets

The U.S. Department of Labor has proposed a set of regulations that would loosen restrictions on 401(k) retirement plans investing in alternative investments such as private equity and crypto assets, while clarifying that fiduciaries must conduct a prudent assessment based on factors including performance, fees, liquidity, valuation, and complexity when introducing relevant assets. Fiduciaries that comply with this process may receive “safe harbor” protection to reduce litigation risk. The rule is an initial step to implement Donald Trump’s executive order and is currently in the public comment period.

2. U.S. senators introduce the Mined in America Act to promote domestic mining and incorporate it into the strategic Bitcoin reserves

U.S. Senator Bill Cassidy and Cynthia Lummis have introduced the Mined in America Act, aiming to promote the domestic development of cryptocurrency mining and related infrastructure in the United States by establishing a voluntary certification mechanism. The proposal would also require certified facilities to gradually phase out mining equipment associated with foreign adversaries, while using existing energy and rural development projects to support the transition and promote domestic mining rig manufacturing. In addition, the bill would codify Donald Trump’s executive order on establishing strategic Bitcoin reserves.

3. Google Quantum AI white paper: Quantum resources needed to break crypto wallet signatures are lower than expected

The Google Quantum AI team released a new white paper stating that future quantum computers with cryptographic attack capabilities would require fewer resources than previously expected to break the wallet signature schemes currently widely used for cryptocurrencies (256-bit elliptic curve cryptography). Google said that under standard hardware assumptions, fewer than 500,000 physical qubits could be sufficient to complete the break within minutes, and it called on the blockchain industry to move as soon as possible to post-quantum cryptography (PQC) to reduce long-term security risks.

Haseeb, managing partner at Dragonfly, commented that Google’s study improves the resource efficiency needed to crack ECDSA by about 20x compared with earlier estimates, and it shifts the industry’s expectations for the post-quantum migration timeline earlier to around 2029. He noted that Google did not even publish the specific quantum circuits, and instead validated the results using zero-knowledge proofs only, indicating the company places a high level of emphasis on this risk.

4. Fish池 co-founder Wang Chun sells a Thai apartment bought in 2015 for 2,900 BTC for 7 BTC

Fish池 co-founder Wang Chun said that in 2015 he spent 2,900 bitcoins to buy an apartment in northern Pattaya, Thailand—his first home—where he personally created and launched the Zcash mining pool. Yesterday, he sold the apartment for 7 bitcoins.