US lawmakers urge SEC to act on Trump’s crypto retirement plan

Nine US lawmakers asked the SEC to move forward on last month’s EO to speed up the inclusion of alternative assets like crypto in US retirement funds.

US lawmakers have called on Securities and Exchange Commission Chair Paul Atkins to help accelerate the executive order enabling crypto investments in US 401(k) retirement plans.

In the letter on Monday, nine lawmakers, including House Financial Services Committee Chairman French Hill and Subcommittee on Capital Markets Chairman Ann Wagner, said that Atkins was asked to “provide swift assistance” to the Secretary of Labor and to make any necessary adjustments to its current regulations and guidance.

They also noted that under President Donald Trump’s August EO on “Democratizing Access to Alternative Assets for 401(k) Investors,” the SEC was instructed to make alternative assets like crypto more accessible in participant-directed retirement plans, in consideration of accredited investor and qualified purchaser rules.

Read more