The opening of the US market to cryptocurrencies has just moved up a gear with the passage of the GENIUS Act by the House of Representatives. This is an opportunity for Donald Trump to set his sights on another target by proposing crypto-based pension plans.
Will Donald Trump open up the pension market to cryptocurrencies?
Since arriving at the White House, President Donald Trump has been radically reorganizing the regulatory management of the US cryptocurrency sector. This operation has recently been crowned with success, with the adoption of his legislation by the House of Representatives.
At the same time, he is taking advantage of this new environment to implement his personal and family crypto projects, raising numerous concerns about potential conflicts of interest.
Indeed, following his recent regulatory success, President Donald Trump has apparently found a new target in the US retirement market and its $9 trillion.
But this foray into the pension sector could have a decisive impact on the adoption of cryptocurrencies.
In the United States, the pension market remains largely dominated by 401k-type savings plans. This is a private solution designed to allow workers to invest part of their salary in publicly traded securities without having to pay taxes. However, almost all of this market is currently based on publicly traded mutual funds and bonds.
This is a reality that the US president would like to “radically change” by including cryptocurrencies, but also gold and private equity. In practice, Donald Trump wants to ask national regulatory agencies to open a series of investigations.
The aim is to identify the obstacles to be overcome in order to allow these alternative investments to be included in 401k funds as soon as possible. According to sources cited by the Financial Times, Donald Trump is therefore preparing to sign an official executive order in the coming days to trigger this process.
However, when asked for clarification by the White House, the US media outlet has so far only received a response stating that “no decision should be considered official unless it comes from President Trump himself.” We will therefore have to wait a little longer to find out more.
