Trump to Sign Executive Order Allowing 401(k) Investments in Cryptocurrencies and Other Alternative Assets

Foresight News reports, according to Bloomberg, that Trump will sign an executive order on Thursday aimed at allowing 401(k) retirement accounts to invest in private equity, real estate, cryptocurrencies, and other alternative assets.

According to a person familiar with the matter who spoke on condition of anonymity before the executive order is officially issued, the order will direct the Department of Labor to reassess the guidelines for alternative asset investments in retirement plans governed by the Employee Retirement Income Security Act of 1974. The department will also be responsible for clarifying the government's fiduciary stance on offering asset allocation funds that include alternative assets. Trump will further instruct Labor Secretary Julie Su to work with counterparts at the Treasury Department, the U.S. Securities and Exchange Commission, and other federal regulators to determine whether rules should be amended to facilitate this initiative. The SEC will be asked to provide easier access to alternative assets for participant-directed retirement plans.