An executive order by President Trump will allow employees to include alternative assets such as Bitcoin ETFs in their 401(k) plans. The order instructs Labor Secretary Lori Chavez-DeRemer to reassess the current asset regulations established under ERISA. It also directs the Department of Labor to collaborate with other federal agencies, including the Treasury and SEC, on policy updates for alternative assets in retirement plans. This move marks a reversal from the actions taken during President Biden's administration, potentially benefiting the crypto industry significantly.
Trump's executive order will allow employees access to alternative assets such as Bitcoin ETFs in their retirement accounts, which were previously restricted.
The order directs the Department of Labor to reexamine guidance on retirement account assets, potentially paving the way for broader investment options.
This executive order signals a shift back to allowing alternative assets in retirement plans after previous regulations were rolled back under Biden.
The collaboration with federal regulators aims to assess potential changes to policies regarding alternative investments in retirement accounts.
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