Summary
- It reported that the U.S. Republican Party is pursuing legislation to allow 401(k) retirement plans to invest in virtual assets.
- Representative Troy Downing said he will introduce the 'Retirement Investment Choice Act'.
- It reported that President Trump signed an executive order allowing 401(k) retirement plans to invest in virtual assets and other alternative assets.
On the 14th (local time), according to crypto-focused media The Block, the U.S. Republican Party is pushing a bill to codify President Donald Trump's executive order allowing 401(k) retirement plans to invest in virtual assets (cryptocurrency).
Troy Downing, a Republican representative from Montana, is set to introduce the "Retirement Investment Choice Act" containing these provisions.
Earlier in August, President Trump signed an executive order allowing 401(k) retirement plans to invest in virtual assets, real estate, private equity funds, and other alternative assets(alternative assets).
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.![[Analysis] "XRP risks repeating the 2022 rout…most short-term investors in the red"](https://media.bloomingbit.io/PROD/news/845f37bb-29b4-4bc5-9e10-8cafe305a92f.webp?w=250)
![[Exclusive] “Airdrops also taxable”... Authorities to adopt a ‘comprehensive approach’ to virtual assets](https://media.bloomingbit.io/PROD/news/4bde9dab-09bd-4214-a61e-f6dbf5aacdfb.webp?w=250)
