The proposal is the latest in a broader debate over how emerging financial technologies should intersect with federal government funding. Social Security serves as a primary source of income for tens of millions of Americans, and its investment strategy has historically prioritized stability and predictability over high risk.<\/p>\n
What To Know<\/p>\n
Durbin’s bill would amend the Social Security Act to explicitly prohibit any future investment in digital assets.<\/p>\n
The Trump administration has not announced any plans to use cryptocurrency assets in the financing of Social Security.<\/p>\n
Durbin argues that introducing cryptocurrency into Social Security would expose millions of Americans to unnecessary financial risk<\/a>. The Social Security program, established in 1935 under President Franklin Delano Roosevelt, was designed to provide consistent and reliable income for retirees, people with disabilities and their families.<\/p>\n The total value of the crypto market fell from more than $4.2 trillion in October 2025 to $2.3 trillion in March 2026, a drop of over 45 percent in five months, according to Durbin’s office. Durbin has warned that similar downturns<\/a> could have severe consequences if retirement funds were tied to such assets.<\/p>\n The legislation also arrives against the backdrop of President Donald Trump’s push to expand the role of cryptocurrency in the financial system. The president has pledged to make the United States the “crypto capital of the world<\/a>,” while his administration has taken steps that critics say ease restrictions on the industry.<\/p>\n Policy changes have extended into retirement planning as well. In May 2025, the Department of Labor rescinded earlier guidance cautioning employers about the risks of including cryptocurrency in 401(k) plans. In August 2025, Trump signed an executive order directing regulators to make it easier for employer-sponsored retirement plans<\/a> to invest in digital assets.<\/p>\n Durbin also pointed to potential conflicts of interest, noting that Trump and his family had investments in cryptocurrency ventures. According to a\u00a0Reuters estimate, the Trump Organization earned $802 million from crypto<\/a> during the first half of 2025.<\/p>\n What People Are Saying<\/p>\n Democratic Senator Dick Durbin said in a news release on March 13: <\/strong>“Social Security is a bedrock promise that hardworking Americans who pay into the program will earn their retirement. If the Social Security Trust Funds were allowed to invest in crypto, any downturn in the crypto market could create huge losses for seniors and people with disabilities and their families, disrupting Social Security’s promise. My bill will ensure the Social Security Trust Funds are never gambled away on cryptocurrencies<\/a>, preventing this risky asset from backing Americans’ retirement funds and blocking the President from further lining his own pockets.”\u00a0<\/p>\n What Happens Next<\/p>\n The bill has been referred to the Senate<\/a> Committee on Finance.<\/p>\n In a polarized era, the center is dismissed as bland. At Newsweek, ours is different: The Courageous Center\u2014it’s not “both sides,” it’s sharp, challenging and alive with ideas. We follow facts, not factions. If that sounds like the kind of journalism you want to see thrive, we need you.<\/p>\n When you become a Newsweek Member<\/a>, you support a mission to keep the center strong and vibrant.\u00a0Members enjoy:\u00a0Ad-free browsing, exclusive content and editor conversations.\u00a0Help keep the center courageous. Join today.<\/a><\/p>\n![\"\"](\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/03\/GettyImages-2186529318-13.jpg\"\/)
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