According to a report from the Financial Times (FT), the order could be signed this week. It would instruct federal agencies to eliminate regulatory barriers that prevent the inclusion of cryptocurrencies and private assets in professionally managed 401k plans.
Currently, most 401k accounts are limited to mutual funds with public stocks and bonds. Trump's plan would allow managers to add bitcoin and other digital assets. Therefore, Americans will have more options to save for retirement.
The White House confirmed that Trump is focused on helping working Americans build wealth and secure their future. However, it emphasized that no decision is final until the president announces it directly.
This measure adds to Trump's broader push to popularize Bitcoin. His administration has already rolled back coercive measures against major cryptocurrency companies and supported legislation that benefits the digital asset industry.
Additionally, a White House representative stated that President Trump has expressed his support for eliminating the capital gains tax on cryptocurrencies. This measure will exempt small Bitcoin transactions from taxes and facilitate the adoption of cryptocurrencies.
It is worth noting that Trump has openly recognized the crypto community for helping him win the 2024 elections. His family's company, Trump Media & Technology Group, has invested over 2 billion dollars in cryptocurrencies and has launched its own stablecoin and digital tokens.