银行反歧视法案
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Trump Signs Executive Orders: New 401(k) Retirement Policy and Bank 'Anti-Discrimination' Order Come Into Effect
On August 8, Trump signed two significant financial policies, implementing key reforms in the areas of the 401(k) retirement plan and bank anti-discrimination services.
Among them, the new 401(k) retirement policy allows approximately $12.5 trillion in 401(k) retirement accounts to invest in alternative assets such as cryptocurrencies, private equity, and real estate. This groundbreaking initiative aims to expand the investment options for retirement savings.
According to policy requirements, the Department of Labor must reassess the guidelines related to the Employee Retirement Income Security Act of 1974 (ERISA) within six months, while clarifying fiduciary responsibilities and supporting rules with the Treasury Department, Securities and Exchange Commission (SEC), and other agencies.
The market reacted positively, with Bitcoin surging after the announcement, reaching over $117,500 at one point this morning. Industry insiders estimate that if 1% of the $12.5 trillion 401(k) market is allocated to cryptocurrencies, it could generate up to $87 billion in new demand.
At the same time, the Trump administration also signed #银行反歧视法案, focusing on combating the 'de-banking' practices of financial institutions based on political or religious positions. This policy specifically addresses the long-standing issue of banking service restrictions faced by the cryptocurrency industry, explicitly prohibiting banks from denying services on the grounds of 'reputational risk.'
Under the new regulations, regulators will review historical cases and impose fines on violating banks, while the Small Business Administration will prioritize the restoration of improperly closed accounts.
It is noteworthy that both policies reflect the Trump administration's core idea of relaxing financial regulation. Although their starting points differ, they both aim to break the constraints of the traditional financial system.
From a broader perspective, these two policies collectively reflect the deep trends in the current reform of the U.S. financial system. The new 401(k) policy seeks to enhance retirement account returns by introducing a more diversified range of investment options, while the bank anti-discrimination bill focuses on ensuring fair accessibility to financial services.
#401k
On August 8, Trump signed two significant financial policies, implementing key reforms in the areas of the 401(k) retirement plan and bank anti-discrimination services.
Among them, the new 401(k) retirement policy allows approximately $12.5 trillion in 401(k) retirement accounts to invest in alternative assets such as cryptocurrencies, private equity, and real estate. This groundbreaking initiative aims to expand the investment options for retirement savings.
According to policy requirements, the Department of Labor must reassess the guidelines related to the Employee Retirement Income Security Act of 1974 (ERISA) within six months, while clarifying fiduciary responsibilities and supporting rules with the Treasury Department, Securities and Exchange Commission (SEC), and other agencies.
The market reacted positively, with Bitcoin surging after the announcement, reaching over $117,500 at one point this morning. Industry insiders estimate that if 1% of the $12.5 trillion 401(k) market is allocated to cryptocurrencies, it could generate up to $87 billion in new demand.
At the same time, the Trump administration also signed #银行反歧视法案, focusing on combating the 'de-banking' practices of financial institutions based on political or religious positions. This policy specifically addresses the long-standing issue of banking service restrictions faced by the cryptocurrency industry, explicitly prohibiting banks from denying services on the grounds of 'reputational risk.'
Under the new regulations, regulators will review historical cases and impose fines on violating banks, while the Small Business Administration will prioritize the restoration of improperly closed accounts.
It is noteworthy that both policies reflect the Trump administration's core idea of relaxing financial regulation. Although their starting points differ, they both aim to break the constraints of the traditional financial system.
From a broader perspective, these two policies collectively reflect the deep trends in the current reform of the U.S. financial system. The new 401(k) policy seeks to enhance retirement account returns by introducing a more diversified range of investment options, while the bank anti-discrimination bill focuses on ensuring fair accessibility to financial services.
#401k
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