House Lawmakers Push SEC to Accelerate Crypto Inclusion in 401(k) Plans

A bipartisan coalition of U.S. lawmakers, led by House Committee Chairman French Hill and Capital Markets Subcommittee Chair Ann Wagner, is urging the SEC to expedite regulatory guidance for cryptocurrency inclusion in 401(k) retirement plans. The initiative stems from President Biden's executive order on digital assets and could impact 90 million American retirement savers.

The legislators' letter to SEC Chairman Paul Atkins emphasizes the need for coordination with the Department of Labor to update rules for participant-directed plans. "Every American preparing for retirement should have access to alternative assets when plan fiduciaries deem them appropriate," the letter states, signaling a potential watershed moment for mainstream crypto adoption.

Parallel efforts in Congress seek to modernize the "accredited investor" definition, another barrier preventing retail participation in private markets. While separate from the 401(k) initiative, this complementary push underscores growing political momentum for broader digital asset access.