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The order will direct the Labor Department to reevaluate guidance around alternative asset investments in retirement plans and clarify the government's position on fiduciary responsibilities. The initiative aims to offer savers more investment options and greater potential upside, but also comes with greater risk and higher fees that may leave retirement plan administrators vulnerable to lawsuits.
The president hosted industry leaders at the White House in March and signed an executive order calling for the creation of a Strategic Bitcoin Reserve and a separate stockpile of other digital assets. His administration has also vowed to elevate crypto-friendly regulators and dismissed or paused lawsuits and investigations whose targets included Coinbase, Robinhood, Uniswap Labs and OpenSea.
