House Lawmakers Push SEC to Implement Trump’s Crypto 401(k) Order

Nine bipartisan members of the House Financial Services Committee have urged SEC Chairman Paul Atkins to expedite the implementation of former President Donald Trump's executive order allowing cryptocurrency investments in 401(k) retirement plans. The Sept. 22 letter, spearheaded by Committee Chairman French Hill and Subcommittee on Capital Markets Chairman Ann Wagner, emphasizes the need for regulatory clarity to enable 90 million Americans to include alternative assets in their retirement portfolios.

The lawmakers argue that fiduciaries should have the flexibility to incorporate cryptocurrencies when they deem it beneficial for risk-adjusted returns. The letter calls for coordinated action between the SEC and the Department of Labor to revise existing regulations, citing bipartisan legislation on accredited investors as a framework for progress.