Lawmakers Push SEC to Allow Crypto in 401(k) Plans Following Trump Executive Order
Congressional leaders are rallying behind President Donald Trump’s Executive Order 14330, which seeks to expand retirement investment options to include digital assets. The August 7 directive mandates the Department of Labor and SEC to dismantle regulatory barriers preventing 401(k) plans from holding alternative assets like cryptocurrencies.
A bipartisan letter from House Financial Services Committee members French Hill (R) and Maxine Waters (D) urges SEC Chair Gary Gensler to expedite rule changes. The lawmakers argue that broadening access to crypto and other alternatives could improve risk-adjusted returns for retirement savers.
The order specifically requires the SEC and DOL to review existing restrictions within 90 days. This MOVE aligns with growing institutional interest in crypto assets, though critics warn of volatility risks in retirement accounts.
