The two comprehensive executive orders promise to transform the U.S. financial landscape, with President Donald Trump reinforcing banking freedom and unlocking cryptocurrency access to retirement accounts for millions seeking diversification and financial independence.
2 Executive Orders That Could Reshape the U.S. Financial System with Protections for Banking and Cryptocurrency in Retirement
Cryptocurrency mogul White House David Sacks emphasized on August 7 through the social media platform X that President Donald Trump signed two important executive orders that have a significant impact on cryptocurrency, banking rights, and retirement investment in the United States.
He described the first measure as a protection against discrimination in the banking sector, noting that this measure aims to prevent financial institutions from targeting individuals or organizations based on their political views, religious beliefs, or legal business activities. Sacks explained: 'Ensuring Fair Banking for All Americans' prevents the denial of banking services based on political beliefs, religious beliefs, or legal business activities.' He added:
This means that unfair censorship campaigns, such as the disenfranchisement of conservatives or Choke Point 2.0, will never be able to happen again.
This order was issued as a direct response to previous cases where banks were accused of closing accounts or restricting services for ideological reasons.
The second measure changes the rules regarding federal retirement plans to allow the inclusion of assets like cryptocurrency. Sacks explained in detail:
'Democratizing access to alternative assets for 401(k) investors' will allow more than 90 million American workers, who currently have limited retirement accounts, to access the same range of alternative assets (including digital assets) available to civil servants, for better returns and diversification.
This initiative combines flexibility in the private sector retirement system with the government employee retirement system, with supporters arguing that this initiative could enhance diversification and improve long-term performance for savers.
Supporters in the cryptocurrency sector view both of these orders as significant policy steps towards financial inclusion and market innovation, potentially boosting the legitimacy of digital assets in mainstream retirement plans. These parallel directives reflect the White House's strategy to expand investment access while reinforcing protections against financially motivated restrictions.