Trump signs executive order: 401(k) retirement new policy and the bank "anti-discrimination" order officially takes effect.

August 8 news, Trump has signed two significant financial policies consecutively, implementing two key reform measures in the 401(k) retirement plan and banking anti-discrimination services.

Among them, the 401(k) retirement plan's new policy allows approximately $12.5 trillion in 401(k) retirement accounts to invest in alternative assets such as cryptocurrencies, private equity, and real estate. This groundbreaking initiative aims to expand the range of investment options for retirement savings.

According to policy requirements, the Department of Labor must reassess the guidelines related to the Employee Retirement Income Security Act of 1974 (ERISA) within six months, while clarifying fiduciary responsibilities and supporting rules with the Department of the Treasury, Securities and Exchange Commission (SEC), and other agencies.

The market reacted positively to this, with Bitcoin rising sharply after the news was announced, briefly breaking the $117,500 mark this morning. Industry insiders estimate that if 1% of the $12.5 trillion 401(k) market is allocated to cryptocurrencies, it could generate up to $87 billion in new demand.

At the same time, the Trump administration also introduced the #BankAntiDiscriminationAct, focusing on combating the "de-banking" actions of financial institutions based on political or religious positions. This policy particularly addresses the long-standing issue of banking service restrictions faced by the cryptocurrency industry, explicitly prohibiting banks from refusing to provide services on the grounds of "reputation risk."

According to the new regulations, regulatory agencies will review historical cases and impose fines on violating banks, while the Small Business Administration will prioritize restoring improperly closed accounts.

It is worth noting that both of these policies embody the core idea of the Trump administration to relax financial regulations. Although their starting points are different, they are both committed to breaking the constraints of the traditional financial system.

From a more macro perspective, these two policies together reflect the deeper trends in the current reform of the U.S. financial system. The 401(k) new deal attempts to enhance retirement account returns by introducing more diversified investment options, while the bank anti-discrimination bill focuses on ensuring the fairness and accessibility of financial services.

#401k