Particle.news
Download on the App Store
10 ARTICLES
·
1h ago

House Lawmakers Press SEC to Move on Trump Order Opening 401(k)s to Crypto

Nine bipartisan members urged Chair Paul Atkins to coordinate with Labor to clear a path for alternative assets in retirement plans.

Image
Image
Image
Us lawmakers press sec to implement trump’s 401(k) crypto directive

Overview

  • On Sept. 22, nine House Financial Services Committee members led by French Hill and Ann Wagner sent a letter urging SEC Chair Paul Atkins to swiftly implement Executive Order 14330.
  • Trump’s Aug. 7 order directs the SEC and Labor Department to update rules so plan fiduciaries can offer exposure to alternative assets, including cryptocurrencies, when deemed appropriate.
  • The lawmakers asked the SEC to revise regulations and guidance for participant‑directed plans and to review potential changes to accredited‑investor and qualified‑purchaser frameworks.
  • Roughly 90 million Americans participate in 401(k) plans holding about $12 trillion, and coverage cites estimates that a 1% allocation to crypto could channel about $93 billion into the market.
  • No investment menu changes have taken effect yet, with implementation contingent on formal guidance, product filings, recordkeeper integration and plan‑committee decisions.