According to reports, a member of the U.S. House of Representatives has introduced a bill to codify President Donald Trump's executive order allowing 401(k) retirement accounts to include alternative assets such as cryptocurrencies—making it law.
According to Politico on Tuesday, Republican Congressman Troy Downing presented a draft bill in the House Financial Services Committee that would give legal effect to Executive Order 14330.
The executive order signed by Trump on August 7 states that every American preparing for retirement should have the opportunity to access funds that include "alternative assets," provided that the plan's trustees deem it appropriate.
According to the executive order, "alternative assets" include private market investments, real estate, commodities, infrastructure projects, lifetime income strategies, and digital assets held through actively managed investment tools.
The executive order sets government priorities but lacks legal force and could be overturned by successors or courts. To make the policy permanent, Congress must pass the bill text in both chambers and then sign it into law.
Trump's executive order on retirement assets states that the Department of Labor, the U.S. Securities and Exchange Commission (SEC), and the Treasury Secretary must review and prioritize the development of 401(k) plan guidelines within six months.
Despite the U.S. government shutdown, the bill has still been introduced, as Congress can propose and debate legislation during funding gaps.
The initiative to add alternative assets, including cryptocurrencies, to U.S. retirement accounts has been developing for months.
In May, the Department of Labor withdrew Biden-era guidelines that warned trustees to be "extremely cautious" when considering the inclusion of cryptocurrencies in 401(k) retirement plans.
In September, about a month after the release of Trump's executive order, nine U.S. lawmakers wrote to SEC Chairman Paul Atkins urging the agency to expedite the implementation of the executive order and "help the 90 million Americans currently restricted from investing in alternative assets to ensure a dignified and comfortable retirement."
In the U.S., 401(k) plans are one of the most widely used employer-sponsored retirement savings plans. According to the Investment Company Institute (ICI) report on U.S. retirement market data for the second quarter of 2025, as of June 30, Americans held a total of $9.3 trillion in 401(k) accounts.
While some experts express concerns about the risks of adding cryptocurrencies and digital assets to 401(k) plans, many in the cryptocurrency space are optimistic about the idea.
André Dragosch, Head of European Research at Bitwise, told Cointelegraph in August that allowing cryptocurrencies into U.S. retirement plans could mark an important step for Bitcoin adoption and attract billions of dollars in new capital.
Related: Metaplanet's enterprise value falls below its Bitcoin (BTC) holdings
Original article: “U.S. Representative Seeks to Turn Trump’s 401(k) Cryptocurrency Executive Order into Law”
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