BlockBeats reported that on August 8, Trump signed an executive order on Thursday requiring the U.S. Department of Labor to reassess the eligibility of industries such as private equity, real estate, and cryptocurrencies for investment, allowing them to be included in 401(k) retirement plan investments. This move could inject massive funds into the market and has led to a strong surge in cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH).
According to reports, this executive order also requires the Department of Labor to collaborate with the Treasury Department, the U.S. Securities and Exchange Commission (SEC), and other relevant agencies to study how to adjust supporting regulations to allow more types of investments into 401(k) pension plans. This change is expected to bring approximately $12.5 trillion of pension funds into the market, which is undoubtedly a strong support for cryptocurrencies and related assets.
In the past, due to legal risks, most corporate pension management teams refused to include illiquid and complex products in 401(k) investments. BiyaPay analysts pointed out that the signing of this executive order is seen as a key step by the Trump administration to open the door to the private equity market, providing strong policy support for the market development of cryptocurrencies. This initiative is significant not only for the crypto market but also lays the groundwork for a future bull market.
The BiyaPay platform supports the mutual exchange of over 200 cryptocurrencies including BTC and ETH, and there are zero transaction fees for spot and contract orders, helping users reduce trading costs.
