Trump Set To Open $9 Trillion 401(k) Pensions Market To Crypto: FT
US President Donald Trump could sign an executive order as early as this week to allow 401(k) pension plans to invest in assets including crypto, gold and private equity, the Financial Times reported. That would represent a sea change for crypto, opening the industry to a 401(k) market with $8.9 trillion in assets as of September last year. About 71.5 million Americans have 401(k) pension plans. A 401(k) is a type of retirement plan offered by many employers in the US. It gives employees the option to save and invest a portion of their paycheck in the funds before taxes are deducted. The Financial Times report cited three people who were briefed on the plan. Trump Will Have The Final Say The executive order would instruct regulatory agencies in Washington to formulate a plan to enable investment in crypto and other assets, the report said. Regulators will also have to investigate any remaining obstacles that might prevent the alternative investments from becoming a r...