A Republican lawmaker is taking a major step to boost cryptocurrency adoption in retirement plans. Rep. Troy Downing (R-MT) plans to introduce the Retirement Investment Choice Act, a bill that would turn President Trump’s August executive order on 401(k)s and alternative assets into federal law. The move aims to ensure Americans can invest part of their retirement savings in digital assets like Bitcoin and Ethereum.

The bill would give Trump’s directive “the force and effect of law,” potentially paving the way for billions of dollars from the $25 trillion retirement industry to flow into crypto markets. Downing praised the effort, calling alternative assets a “transformative” way to strengthen Americans’ financial futures and applauding Trump for “democratizing finance.”

Currently, only Bitcoin and Ethereum ETFs are available on Wall Street, but more crypto-linked products are expected soon. If passed, the legislation could accelerate mainstream adoption and mark a turning point for crypto in U.S. retirement portfolios.