US Lawmakers Advocate for Crypto Inclusion in 401(k) Plans

A bipartisan group of U.S. lawmakers, spearheaded by House Financial Services Committee Chairman French Hill, has urged SEC Chair Paul Atkins to support Executive Order 14330. The order aims to broaden access to cryptocurrency investments within 401(k) retirement plans, potentially benefiting millions of Americans.

The lawmakers argue that including alternative assets like crypto could enhance risk-adjusted returns for retirement portfolios, provided plan fiduciaries deem them suitable. Their letter calls for collaborative efforts between the SEC and the Department of Labor to update regulations, ensuring wider investor access.

The executive order also directs the SEC to revisit accreditation criteria for investors, particularly in participant-directed defined contribution plans. The group emphasized the need for swift regulatory adjustments to align with these objectives.