Trump's different measures in the wave of "pro-cryptocurrency" policy in 2025, although there is no direct connection in terms of legislation and implementation, they complement each other in terms of macro policy orientation:
1. $9 trillion pension fund opens up to crypto investment In mid-July 2025, Trump is prepared to sign an executive order allowing U.S. retirement plans such as 401(k) to allocate some funds to alternative assets like cryptocurrencies, gold, and private equity. This means that the global pension asset management market of approximately $9 trillion will legally inject "blood" into digital assets for the first time— even a mere 1% allocation could bring hundreds of billions of dollars in incremental funds into the market.
2. "GENIUS Act": Federal regulatory framework for stablecoins Meanwhile, on July 18, 2025, Trump signed the "GENIUS Act," which focuses on the issuance and operational regulation of dollar-pegged stablecoins, explicitly requiring full reserves, regular audits, and public disclosures, and is supervised by banking regulatory agencies, thus eliminating the policy vacuum surrounding stablecoin businesses from a legal perspective.
3. Policy synergy
• Although the paths to both are different (the former is an executive order, while the latter is congressional legislation), they are both building a more open and compliant digital asset ecosystem:
• The clarity of stablecoin regulation helps pension fund managers safely position "quasi-dollar" assets within legal boundaries;
• The opening of retirement plans provides a huge potential institutional demand for compliant stablecoins and other digital assets.
• In other words, the "GENIUS Act" provides a compliance basis for large-scale institutions (including pension funds) to invest in stablecoins, while the opening of 401(k) investments will truly activate this demand, with both working complementarily to drive mainstream capital into the digital currency market.
Summary
Although the executive order allowing the $9 trillion pension fund to enter the digital currency market and the "GENIUS Act" do not overlap in legal form or specific content, they both belong to Trump's strategy of "making America the global cryptocurrency center": the former opens the gateway for massive institutional funds, while the latter builds a safe and compliant investment channel, with both working together to significantly accelerate the transfer of traditional capital to digital assets.
