United States Representative Troy Downing has introduced a bill aimed at codifying President Donald Trump's executive order into law, which permits the inclusion of alternative assets, including cryptocurrencies, in 401(k) retirement accounts. The executive order, Executive Order 14330, was issued on August 7, 2025, and allows Americans saving for retirement to access funds with digital assets when deemed appropriate by a plan fiduciary.
Downing presented the draft bill to the House Financial Services Committee, seeking to grant the order legal permanence, as executive orders can be reversed by future administrations or courts. The order mandates that the Department of Labor, Securities and Exchange Commission (SEC), and Treasury Secretary review and prioritize guidance for 401(k) plans within six months. This legislative effort occurred despite the ongoing US government shutdown, as Congress can still introduce and debate bills during funding lapses.
In May 2025, the Department of Labor withdrew Biden-era guidance that cautioned fiduciaries against crypto exposure in 401(k) plans. Subsequently, in September, nine members of Congress urged SEC Chair Paul Atkins to accelerate the order's implementation to help 90 million Americans currently restricted from investing in alternative assets. According to the Investment Company Institute, Americans held approximately $9.3 trillion in 401(k) accounts as of June 30, 2025.
While some financial experts warn of risks, many in the crypto community support the move. André Dragosch, head of European research at Bitwise, stated in August that integrating cryptocurrency into retirement plans could be a game-changer for Bitcoin adoption and attract billions in new investment.
