The Trump administration is reportedly set to press for the use of digital assets in 401(k) plans and mortgages.<\/p>\n
President Donald Trump is expected to issue an executive order that calls for 401(k) plans to open to additional assets that could include cryptocurrencies, CoinDesk reported<\/a> Monday (July 28).<\/p>\n The administration\u2019s plan for mortgages was announced in a recent order from William Pulte<\/a>, director of the Federal Housing Finance Agency<\/a>, per the report. Pulte told mortgage giants Fannie Mae<\/a> and Freddie Mac<\/a> to prepare plans to consider a borrower\u2019s crypto holdings as assets backing up their mortgage.<\/p>\n The administration\u2019s plan for additional actions on crypto are set to be published Wednesday (July 30) in a report that was assigned to be created by Trump\u2019s executive order on digital assets policy that was issued in January, per the report.<\/p>\n The report may include details on the bitcoin strategic reserve, crypto tax policies and other matters, according to the CoinDesk report.<\/p>\n The potential expansion of digital assets into 401(k) plans and mortgages is likely to be met with opposition by Democratic lawmakers, per the report.<\/p>\n The report set to be released Wednesday will come from the Presidential Working Group on Digital Assets Markets established by Trump\u2019s Jan. 23 executive order<\/a>.<\/p>\n That group was created to develop a federal regulatory framework governing digital assets<\/a> and consider the creation of a strategic national digital assets stockpile.<\/p>\n \u201cThe digital asset industry plays a crucial role in innovation and economic development in the United States, as well as our Nation\u2019s international leadership,\u201d the executive order said. \u201cIt is therefore the policy of my Administration to support the responsible growth and use of digital assets, blockchain technology, and related technologies across all sectors of the economy.\u201d<\/p>\n