New Bill Proposes Inclusion of Cryptocurrency in 401(k) Plans

According to BlockBeats, U.S. Republican Representative Troy Downing is set to introduce a new bill, the Retirement Investment Choice Act, on Tuesday. The proposed legislation aims to formalize a previous executive order by U.S. President Donald Trump, allowing cryptocurrencies and private equity to be included in 401(k) retirement plan investment options. The bill has garnered support from four Republican co-sponsors: Byron Donalds, Buddy Carter, Warren Davidson, and Barry Moore. Downing stated that this initiative would enable more American savers to access high-potential alternative assets. Previously, the Biden administration had expressed caution regarding the inclusion of crypto assets in retirement plans.