Trump to sign executive order to allow 401(K) to invest in alternative assets like cryptocurrencies

According to Foresight News, Trump will sign an executive order on Thursday to allow 401(K) retirement accounts to invest in private equity, real estate, cryptocurrencies and other alternative assets, according to Bloomberg.


According to a person familiar with the matter who asked not to be named before the formal issuance of the executive order, the executive order will direct the Department of Labor to re-evaluate guidelines for alternative asset investment in retirement plans subject to the Employee Retirement Income Security Act of 1974. The department will also be responsible for clarifying the government's fiduciary responsibility position in providing asset allocation funds containing alternative assets. Trump will also direct Labor Secretary Lori Chavez-Dremer to work with colleagues from the Treasury Department, the SEC and other federal regulators to determine whether the rules should be modified to assist the work. The SEC will be required to provide participant-oriented retirement plans with access to alternative assets.

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