US lawmakers push SEC on Trump’s crypto retirement order
A group of nine lawmakers has urged the SEC to move quickly in implementing a recent executive order that could expand access to cryptocurrency within retirement savings plans.
The request follows President Donald Trump’s August directive instructing regulators to make alternative assets, including crypto, more accessible for participants in 401(k) schemes. In a letter sent on 22 September 2025, the lawmakers asked SEC officials to assist the Department of Labour in revising existing rules and guidance. They argued that these changes should reflect the executive order’s aim of expanding investment options, particularly in the context of rules that currently limit exposure to alternative assets through accredited investor and qualified purchaser standards.

Regulatory pressure to include crypto in 401(k)s

According to the representatives, allowing access to a wider range of assets could benefit millions of Americans saving for retirement. They said the move might give participants more tools to achieve stronger, risk-adjusted outcomes. Their appeal comes after the Department of Labour reversed earlier guidance in May that had advised fiduciaries to exercise extreme caution when adding crypto to retirement portfolios.

If the order is carried out, it could reshape the USD 9.3 trillion US 401(k) market. Analysts estimate that even a modest allocation of 1% into crypto products would represent about USD 93 billion in inflows.

Some state pension systems have already begun exploring crypto exposure. The Michigan Retirement System, for instance, expanded its holdings in a Bitcoin ETF earlier this year while maintaining positions in an Ethereum trust. Others, such as Wisconsin’s pension board, have taken the opposite path by selling off previous investments.