New GOP bill aims to codify Trump's executive order on crypto and private equity in 401(k) retirement plans
Quick Take Rep. Troy Downing, R-Mont., will introduce a bill on Tuesday, called The Retirement Investment Choice Act, a source familiar told The Block. The bill has four Republican cosponsors — Reps. Byron Donalds, Buddy Carter, Warren Davidson, and Barry Moore.
A new House bill would cement U.S. President Donald Trump's executive order directing the Labor Department to pave the way for cryptocurrency and private equity to be offered in 401(k) retirement plans.
Rep. Troy Downing, R-Mont., will introduce that bill on Tuesday, called The Retirement Investment Choice Act, a source familiar told The Block. Politico previously reported the news.
"Alternative investments hold the transformative potential to supercharge the financial security of countless Americans saving for retirement," Downing said in an emailed statement. "I applaud President Trump for his leadership to democratize finance and am proud to be leading the effort in Congress to codify his EO and enshrine this move for generations to come."
In August, Trump signed an executive order directing the Labor Department, the Securities and Exchange Commission, the Treasury Secretary, and others to consider ways to allow investments in crypto, private equity, and other alternative assets.
That marked a departure from the previous Biden administration, during which the Labor Department raised concerns around the idea that crypto can produce outsized returns and cautioned that it could cloud investors' judgment and attract inexperienced investors. That was later reversed under the Trump administration.
The new bill adds "more permanency," a person familiar said.
"The big deal is codifying the EO [executive order] and giving that permanency, democratizing finance being the overarching theme here of making these alternatives more widely available is really what's driving the bill itself," the person said.
The bill has four Republican cosponsors — Reps. Byron Donalds, Buddy Carter, Warren Davidson, and Barry Moore. There is no Senate version of the bill, the person said.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ethereum News Update: Amundi’s Integrated Approach Connects Blockchain with Conventional Financial Regulations
- Amundi, Europe's largest asset manager, launched its first Ethereum-based tokenized money-market fund, enabling 24/7 settlements and transparent record-keeping via blockchain. - The hybrid model, developed with CACEIS, combines traditional fund operations with blockchain-based ownership, preserving regulatory compliance while expanding investor access. - Ethereum's dominance in stablecoin and RWA transfers ($105.94B in 30 days) underscores its role in accelerating tokenization, with Amundi positioning it
XRP News Today: XRP ETFs Drive Price Increases, While Solana ETFs Ease Selling Pressure
- XRP ETFs raised $587M in inflows since late November, outpacing Solana's $568M as investors favor altcoins with regulatory clarity and utility. - Bitwise XRP ETF's $107M debut and zero-fee strategy drove momentum, while Solana ETFs faced $156M weekly outflows due to network reliability concerns. - XRP's inflows acted as a "battering ram" pushing prices above $2.27, contrasting Solana's ETFs which merely dampened sell pressure without reversing its decline. - Analysts predict XRP could reach $3 by Decembe
The Federal Reserve's Change in Policy and Its Impact on Alternative Cryptocurrencies Such as Solana
- Fed's 2025 policy shifts, including rate cuts and stablecoin regulations, are reshaping altcoin markets by altering liquidity and risk appetite. - Solana's Alpenglow upgrade (150ms finality, 1M TPS) addresses scalability issues, aligning with Fed's AI-driven infrastructure focus despite network reliability concerns. - Institutional inflows into Solana ETFs ($100M AUM) contrast with retail caution (78% HODLers in red), highlighting divergent risk perceptions amid 30% price corrections. - Divergent ETF flo
Avail's Intent-Driven Nexus Addresses the Issue of Fragmented Liquidity Across Chains
- Avail launches Nexus Mainnet, a cross-chain solution unifying liquidity across Ethereum , Solana , and EVM networks. - The intent-solver model enables seamless asset transfers without technical complexities, streamlining user experiences. - Developers gain modular tools for multichain integration, reducing costs as cross-chain liquidity demand grows. - Nexus abstracts execution layers, offering unified balances and execution while addressing fragmentation challenges. - With $50B+ in cross-chain activity
Trending news
MoreCrypto prices
More
