%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment The U.S. Department of Labor has proposed a rule that will make it easier for 401(k) retirement funds to include investments in cryptocurrencies such as Bitcoin (CRYPTO: $BTC ). The proposed rule change is in response to U.S. President Donald Trump's executive order that directed the government and Securities and Exchange Commission (SEC) to open 401(k)s to crypto and other alternative assets, including private equity. Until now, most 401(k)s have been restricted to investing in stocks and bonds. Cryptocurrencies such as Ethereum (CRYPTO: $ETH ) were deemed too risky for retirement funds. But the new approach would allow plan providers to add a broader mix of assets, including crypto and private-market funds that are not traded on public exchanges. Last year, the Labor Department removed previous guidance that urged fiduciaries to exercise extreme caution before adding cryptocurrencies to retirement plans. Now, an executive order from President Trump calls for digital assets such as Dogecoin (CRYPTO: $DOGE ) to be treated on par with other investment options such as stocks. The proposed change has drawn swift criticism from lawmakers and many financial advisors, who call the move reckless and say that it could jeopardize the retirements of Americans. "As cracks emerge in the private credit market, private equity returns fall to 16-year lows, and crypto keeps tumbling, President Trump has decided now is the time to stick all of these risky assets into Americans' 401(k)s," said U.S. Senator Elizabeth Warren in a statement. However, the stakes for cryptocurrencies and asset managers could be huge. U.S. 401(k) plans hold trillions of dollars in retirement savings, and even a small shift into digital assets could send new capital flooding into the market, say Wall Street analysts. Bitcoin is currently trading at $66,800 U.S.