New GOP Bill Wants to Solidify Trump’s Bitcoin-Friendly 401(k) Order
Bitcoin MagazineNew GOP Bill Wants to Solidify Trump’s Bitcoin-Friendly 401(k) Order A bill wants to lock in President Donald Trump’s August executive order directing the Labor Department to open retirement plans to bitcoin. This post New GOP Bill Wants to Solidify Trump’s Bitcoin-Friendly 401(k) Order first appeared on Bitcoin Magazine and is written by Micah Zimmerman.
Bitcoin Magazine
New GOP Bill Wants to Solidify Trump’s Bitcoin-Friendly 401(k) Order
A new House bill aims to lock in President Donald Trump’s August executive order directing the Labor Department to open retirement plans to alternative assets — including bitcoin.
The Retirement Investment Choice Act, expected to be introduced Tuesday by Rep. Troy Downing (R-Mont.), would give Executive Order 14330 “the force and effect of law.”
The one-page bill cements Trump’s directive that Americans saving for retirement should be allowed access to crypto and other alternative assets if plan providers deem them appropriate.
“Alternative investments hold the transformative potential to supercharge the financial security of countless Americans saving for retirement,” Downing said in a statement reported by Politico. “I applaud President Trump for his leadership to democratize finance and am proud to be leading the effort in Congress to codify his EO.”
If enacted, it would permanently authorize 401(k) providers to include crypto-exposed products alongside traditional funds. This could unlock billions of dollars in new flows to Bitcoin and other digital assets.
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