U.S. Representative Troy Downing is set to introduce a bill called the Retirement Investment Choice Act on Tuesday, aiming to formally allow cryptocurrency and private equity to be included in 401(k) retirement plan investment options. This follows an executive order by former President Trump, which paved the way for these investments. The bill has received support from four Republican co-sponsors: Byron Donalds, Buddy Carter, Warren Davidson, and Barry Moore. Downing believes this change will expand access to high-potential investment alternatives for American savers. Conversely, the Biden administration expressed cautiousness regarding incorporating crypto assets into retirement plans previously.