Representative Troy Downing (R-Mont.) is set to introduce a new bill that could bring cryptocurrency and other alternative assets to American retirement plans.
The bill, known as the Retirement Investment Choice Act, aims to make it legal for 401(k) holders to include crypto assets like Bitcoin, private equity, and similar investments in their portfolios.
U.S. Representative Troy Downing will introduce the Retirement Investment Choice Act this Tuesday, aiming to codify former President Trump’s executive order that allows 401(k) retirement plans to invest in cryptocurrencies and private equity. The bill has reportedly received…
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This proposal would codify former President Donald Trump’s executive order, which directed federal agencies to explore ways to expand investment options for retirement savers. The Labor Department, the SEC, and the Treasury were all asked to help make this possible.
From Executive Order to Permanent Law
Downing says his goal is to give Americans more control over how they build wealth. “Alternative investments hold the potential to supercharge financial security for countless Americans saving for retirement,” he said in a statement.
He also praised Trump’s move to “democratize finance,” calling this bill a step toward making those changes permanent. The bill has four Republican co-sponsors, including Reps. Byron Donalds, Buddy Carter, Warren Davidson, and Barry Moore. However, there’s currently no Senate version.
A person familiar with the matter told news sources that the new bill’s main focus is to “give permanency” to Trump’s executive order. The goal is to ensure that Americans can keep access to these investment options even if the administration changes.
What It Means for Investors
If passed, this bill could open the door for millions of Americans to diversify their retirement funds beyond traditional stocks and bonds. It would also mark a big shift from the Biden-era policy, which warned that crypto might be too risky for average savers.
Still, financial experts are likely to debate whether the benefits of higher potential returns outweigh the risks of volatility. For now, the move signals growing political support for crypto-friendly finance in Washington.
Disclaimer
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