Editor’s note: He signed it.
U.S. President Donald Trump is expected to sign an executive order on Thursday that would allow private equity and cryptocurrencies into Americans’ 401(k)s, appeasing corporate interests that lobbied for the change and disregarding warnings about the risks it poses to retirement accounts.
Citing an unnamed senior White House official, CNN reported that “the order calls for the Labor Department and Securities and Exchange Commission to issue guidance to employers about providing access to those alternative investments in their retirement accounts.”
You already could. Crypto specifically had some rules put up against it, but all kinds of nutty financial products were in the mix.
I remember seeing a lot of people using IRAs (different) for options trading as well, which is 1000% “gambling” the way they were doing it.