The rules for retirement pensions in the United States are under major adjustment, with the chairman of the SEC hinting at including cryptocurrency assets in the investment scope.

Chairman of the Securities and Exchange Commission (SEC) Paul Atkins recently stated that the agency will work together with the Department of Labor to potentially adjust retirement plan regulations. In an interview with a program, he emphasized, "Reforms must be advanced in a more thoughtful manner." Earlier reports indicated that the Trump administration is working on drafting an executive order to create conditions for investing private equity in 401(k) retirement savings plans. According to sources, the specific details are still under discussion, and the exact release date is unclear. Regarding the demand from investors for private market investments, Atkins pointed out that there are fundamental differences between private and public markets, especially in terms of liquidity, which need to be carefully considered. When asked about the possibility of including cryptocurrency in retirement plans, he responded, "Transparency of information is a fundamental premise, and investors must have a clear understanding of the risks. I will continue to monitor policy developments." Atkins, who took office in April of this year, is leading the SEC into what he calls a "new era and new chapter." As a regulator who has criticized excessive regulation multiple times, he has already abolished more than ten policy drafts from the Biden era since taking office, including plans to relax shareholder proposal rights. His policy adjustments are clear: reviewing executive compensation disclosure rules, reducing the amount of information private equity funds submit to the SEC, and possibly opening the door for hedge funds holding cryptocurrencies. These measures continue his long-standing regulatory approach of simplifying disclosures and supporting the development of digital assets, marking a significant shift in the SEC's policy direction. Market expectations for policy relaxation have long been evident. In April of this year, Fidelity Investments, with assets under management totaling $5.8 trillion, was the first to launch a cryptocurrency individual retirement account (IRA) supporting Bitcoin, Ethereum, and Litecoin. Although private equity giants like Blackstone and BlackRock have not clearly announced strategies directly linked to retirement savings, they have participated in the cryptocurrency market through investments in Bitcoin ETFs and other means. Analytical agencies speculate that if 1% of 401(k) assets were allocated to cryptocurrencies, it could bring in billions of dollars in new funds, but there is no authoritative estimate yet. However, potential risks are raising severe warnings from regulatory bodies and academia. Some experts are concerned that private equity investments may bring additional risks to retirement investment portfolios. Private equity investments often focus on a few companies, with much lower liquidity than stocks and bonds. This pension reform is related to the policy combination of the Trump administration's support for cryptocurrencies. On July 17th, the U.S. House of Representatives passed the "CFTC Reauthorization Act," which establishes a federal regulatory framework for stablecoins, requiring issuers to hold a 1:1 reserve of dollar assets. Treasury Secretary Yellen openly supports this legislation, predicting that the stablecoin market size will soar from the current $250 billion to $2 trillion.