House bill would codify Trump’s order to allow cryptocurrency in 401(k) plans

Core Insights - The U.S. Department of Labor (DOL) is reevaluating guidance on cryptocurrency investments in retirement plans following an executive order from former President Trump [3][4] - The DOL has rescinded a previous warning that advised caution regarding cryptocurrency options in 401(k) plans, indicating a neutral stance on including such investments [4] - A new bill introduced by U.S. Rep. Troy Downing aims to codify Trump's executive order, facilitating investments in private equity, real estate, and cryptocurrency within 401(k) retirement plans [6] Group 1 - Trump's executive order on August 7 directed the DOL to reassess investment guidance and for the SEC to revise relevant regulations [3] - The DOL's Employee Benefits Security Administration previously warned fiduciaries to exercise "extreme care" before adding cryptocurrency to investment menus, citing risks like fraud and volatility [4] - The American Securities Association supports Downing's bill, stating it would expand investment opportunities for retirement savers [5] Group 2 - The Retirement Investment Choice Act aims to democratize access to alternative investments for 401(k) investors, potentially enhancing financial security for Americans [6] - Downing emphasized the transformative potential of alternative investments for retirement savings and praised Trump's leadership in this initiative [6]