A Republican lawmaker in the US House of Representatives has introduced legislation to make one of President Donald Trump’s executive orders — which allows alternative assets such as cryptocurrencies in 401(k) retirement plans — a permanent part of federal law. Representative Troy Downing presented the draft bill before the House Financial Services Committee, aiming to codify Executive Order 14330 and give it lasting legal authority. The move, first reported by Politico, would mark a significant step toward integrating digital assets into mainstream retirement investment options. Trump’s Executive Order on Retirement Options Executive Order 14330, signed by Trump on August 7, directs that every American planning for retirement should have access to funds that include “alternative assets” when deemed suitable by a fiduciary overseeing the plan. The order defines alternative assets broadly — including private market investments, real estate, commodities, infrastructure projects, lifetime income strategies, and digital assets through actively managed investment vehicles. Although executive orders set federal priorities, they do not carry the permanence of law and can be overturned by subsequent administrations or court rulings. To make such policies enduring, Congress must pass a bill approved by both chambers and have it signed into law. Legislative Push Continues Despite Shutdown Despite an ongoing government shutdown, Congress remains able to introduce and debate new legislation. Trump’s executive order also instructed the Department of Labor, the Securities and Exchange Commission (SEC), and the Treasury Secretary to review and prioritize new guidance for 401(k) plans within six months. The goal is to expand access to diversified retirement investment strategies, including exposure to digital and alternative assets. Expanding Crypto Access for Retirement The initiative to include digital assets in US retirement accounts has been building momentum throughout 2025. Earlier this year, the Department of Labor withdrew Biden-era guidance warning fiduciaries to be “extremely cautious” about including crypto in retirement portfolios. In September, shortly after Trump’s executive order took effect, nine lawmakers sent a letter to SEC Chair Paul Atkins urging faster implementation. They argued that doing so could “help the 90 million Americans that are currently restricted from investing in alternative assets to secure a dignified, comfortable retirement.” According to data from the Investment Company Institute (ICI), Americans held $9.3 trillion in 401(k) assets as of June 30, 2025 — highlighting the potential scale of impact if digital assets become a standard investment option. Industry Divided on Crypto’s Role in 401(k)s The proposal has sparked debate among financial experts. Critics warn that crypto’s volatility could endanger retirement savings, while supporters see it as an important step toward financial modernization. André Dragosch, head of European research at Bitwise, told Cointelegraph in August that the inclusion of cryptocurrency in US retirement plans “could mark a major step for Bitcoin adoption and attract billions in new capital.”
