A bipartisan coalition of nine US lawmakers has ramped up pressure on the Securities and Exchange Commission (SEC) to swiftly implement President Donald Trump’s executive order aimed at democratizing access to cryptocurrencies and alternative assets in 401(k) retirement plans. In a letter dated September 22, 2025, sent to SEC Chair Paul Atkins, the group—including House Financial Services Committee Chairman French Hill and Subcommittee on Capital Markets Chair Ann Wagner—called for “swift assistance” to the Department of Labor (DOL) and urgent revisions to existing regulations. For retirement savers, crypto enthusiasts, and policy watchers searching Trump crypto 401k plan, SEC lawmakers letter 2025, or Bitcoin retirement investments, this development could open the $9.3 trillion US 401(k) market to digital assets, potentially channeling $93 billion into Bitcoin and other cryptos via modest 1% allocations. Let’s unpack the executive order, the lawmakers’ demands, and the stakes in this push for mainstream crypto adoption.
The Executive Order: Trump’s August Push for Alternative Assets in Retirement
Signed on August 7, 2025, Trump’s “Democratizing Access to Alternative Assets for 401(k) Investors” executive order directs federal agencies to review and expand options for participant-directed retirement plans, including 401(k)s, to include “alternative assets” like cryptocurrencies, private equity, real estate, and venture capital. The order emphasizes considering accredited investor and qualified purchaser rules to broaden access beyond the wealthy, aiming to enhance “net risk-adjusted returns” for everyday Americans.
Key directives:
- DOL Review: Reassess fiduciary standards to allow prudent inclusion of crypto under ERISA guidelines.
- SEC Role: Update regulations on digital asset securities and ETFs to facilitate retirement plan integrations.
- Goal: Empower 90 million restricted Americans to diversify savings, potentially boosting retirement outcomes amid inflation and market volatility.
This builds on the DOL’s May 2025 reversal of its anti-crypto guidance, which had warned fiduciaries against including digital assets due to risks. Trump framed it as leveling the playing field, stating it would “enhance the net risk-adjusted returns” for retirees.
The Lawmakers’ Letter: Bipartisan Call for Action
The September 22 letter, spearheaded by Hill (R-AR) and Wagner (R-MO), includes Reps. Frank D. Lucas (R-OK), Warren Davidson (R-OH), Marlin Stutzman (R-IN), Andrew R. Garbarino (R-NY), Michael V. Lawler (R-NY), Troy Downing (R-SC), and Mike Haridopolos (R-FL). It praises the order’s potential to help 90 million Americans “secure a dignified, comfortable retirement” by accessing assets historically reserved for the elite.
Core requests:
- Swift SEC-DOL Collaboration: Accelerate joint guidance on fiduciary duties for crypto allocations.
- Regulatory Tweaks: Revise rules on accredited investors to ease barriers for retail savers.
- Fiduciary Clarity: Ensure plans can offer crypto when it “enhances” returns, with safeguards.
Davidson, a vocal Bitcoin advocate, called it “overdue” for mainstream access to “sound money like Bitcoin.” The group ties it to bipartisan bills modernizing investor definitions.
| Lawmaker | Role/Affiliation | Key Stance |
|---|---|---|
| French Hill | House Financial Services Chair (R) | Lead on financial innovation |
| Ann Wagner | Capital Markets Subcommittee Chair (R) | Regulatory reform advocate |
| Warren Davidson | House (R-OH) | Pro-Bitcoin, anti-debasement |
| Frank D. Lucas | House Agriculture Chair (R) | Supports diversified portfolios |
Potential Impacts: $93B Inflow and Retirement Revolution
If implemented, the plan could transform crypto’s role in long-term savings:
- Market Boost: A 1% 401(k) allocation to crypto could inject $93 billion, supercharging ETFs like BlackRock’s IBIT and Fidelity’s FBTC.
- Investor Access: Opens tax-advantaged exposure for 90 million savers, positioning BTC as a hedge against inflation.
- Fiduciary Shift: DOL/SEC guidance would require “prudent” processes, limiting volatility risks but enabling modest holdings.
- Broader Economy: Aligns with Schroders’ 2025 survey showing 45% of participants eager for private assets, up from 36% in 2024.
Critics worry about volatility eroding nest eggs, but proponents like Hill argue regulated access under fiduciary oversight mitigates this.
Challenges and Next Steps: Regulatory Hurdles Ahead
Implementation faces obstacles:
- SEC Scrutiny: Chair Atkins must navigate crypto’s classification as securities, building on ETF approvals.
- DOL Caution: Post-reversal, fiduciaries need clear “safe harbor” rules to avoid lawsuits.
- Timeline: Lawmakers seek action by Q1 2026, tying into bipartisan accredited investor reforms.
The letter positions this as a “huge win” for Trump’s pro-crypto agenda, potentially accelerating institutional adoption.
Conclusion: A Crypto Gateway to Retirement Security?
The lawmakers’ urgent plea to the SEC on Trump’s crypto retirement plan could unlock unprecedented access, injecting billions into digital assets and empowering everyday savers. As regulations evolve, this bipartisan momentum signals crypto’s maturation as a retirement staple. For those tracking crypto 401k regulations or Trump financial policies, watch for DOL-SEC joint guidance—could Bitcoin become the new 401(k) staple? The clock is ticking toward 2026. Cointelegraph
