House bill aims to codify Trump’s 401(k) order on crypto and private equity
Republican Representative Troy Downing has introduced a bill in the US House of Representatives to codify an executive order by Donald Trump, which allows alternative assets—including cryptocurrencies—to be included in 401(k) retirement accounts. Trump’s executive order, issued on August 7, directs agencies to ensure Americans can access retirement funds featuring alternative assets such as private market investments, real estate, commodities, infrastructure, lifetime income strategies, and digital assets, when considered appropriate by plan fiduciaries. Executive orders lack the permanence of law unless Congress passes corresponding legislation. This move follows the Department of Labor’s withdrawal of previous guidelines that cautioned against crypto in 401(k)s and several lawmakers pressing for expanded access to these investment options. US 401(k) accounts hold roughly $9.3 trillion. While some experts caution that allowing crypto investments in retirement accounts is risky, proponents believe it could significantly boost Bitcoin adoption and draw substantial new capital into the crypto market.
