Cryptocurrencies and Private Market Assets in 401(k)
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Trump (executive) order will allow alternative assets like cryptocurrencies, private equity in 401(k)s
Not entirely new. The IRS issued an opinion letter in 2020 (in Trump's first term) saying alternate, private market assets may be permissible in 401(k) and other "defined contribution" plans. This guidance was later reaffirmed under the Biden administration.
So, are you excited to find out that you will soon be able to trade cryptocurrencies in your 401(k) accounts?
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Nothing good will come of this.