This article discusses the potential for cryptocurrencies to be integrated into mainstream financial systems in the United States,particularly under a potential Trump administration. Hear’s a breakdown of the key points:
Potential for Crypto in 401(k)s:
A new Labor Department rule, reportedly signed by Trump, could allow cryptocurrencies to be included in 401(k) retirement plans.
This move could introduce a significant portion of the investing public to digital assets,despite the market’s lack of formal U.S. regulation.
Upcoming White House Report on Crypto:
A report on crypto, mandated by a previous Trump executive order, is expected to be released soon.
Industry insiders anticipate a comprehensive report that could address federal crypto reserves (like a “Bitcoin Strategic Reserve“) and potentially crypto tax matters.
Crypto in Mortgage Lending:
William Pulte,Trump’s director of the Federal Housing Finance Agency,has ordered government-backed mortgage giants Fannie Mae and Freddie Mac to plan for including borrower crypto holdings as assets that can back mortgages. This initiative faces opposition from Democratic lawmakers, including Senator Elizabeth Warren, who cite the volatility of crypto as a risk to the housing market and financial system.
Broader Implications of Crypto integration:
If crypto becomes accessible in retirement savings, mortgage lending, and federal fiscal policy, it could significantly increase its usage and adoption in the U.S. Trump has expressed a desire for the U.S.to become the “world capital for digital assets.”
Legislative Landscape:
Democrats have recently supported crypto initiatives, marking a shift in their stance.
The focus is now on the Senate’s efforts to establish rules for U.S. crypto markets, following the passage of the GENIUS Act (for stablecoin oversight).
The Senate is working on market structure legislation that will require significant bipartisan support (over 60 votes) to pass, similar to the GENIUS Act.
The industry has a deadline of August 5th to provide feedback on a draft of this market structure bill.
Outlook:
* Despite Congress’s August recess, crypto is expected to remain a high-priority issue on the federal agenda throughout the rest of 2025.
