House Lawmakers Urge SEC to Implement Trump's 401(k) Crypto Order

A coalition of Republican lawmakers has urged SEC Chairman Paul Atkins to swiftly implement President Donald Trump's executive order that expands 401(k) retirement plans to include alternative assets like cryptocurrencies, real estate, and private equity. Signed on August 7, the executive order directs the SEC and Department of Labor to revise existing regulations to facilitate access to these alternative investments for millions of Americans, potentially democratizing access to digital assets such as Bitcoin. The lawmakers emphasized that enabling such investments could improve retirement savings outcomes and help the roughly 90 million Americans currently restricted from these asset classes secure more dignified retirements. The letter, led by House Financial Services Committee Chairman French Hill and Subcommittee on Capital Markets Chair Ann Wagner, also encourages the SEC to consider bipartisan legislation regarding accredited investors to further ease access. Estimates suggest even modest allocations to crypto assets within 401(k) plans could channel billions of dollars into digital investments, highlighting the substantial market impact. This initiative marks a significant step toward modernizing retirement savings by aligning them with emerging, non-traditional asset classes, reflecting a broader push to expand investment options beyond traditional stocks and bonds.