Washington: US President Donald Trump has signed an executive order aimed at expanding investment options within the US retirement system by allowing alternative assets such as digital assets, private equity, and real estate to be included in individual retirement plans.

According to Anadolu Agency, the White House released a statement indicating that Trump is focused on providing American workers with more investment opportunities to bolster their retirement security. The Department of Labor has been directed to review the existing investment regulations governing "401(k)" plans, ensuring clarity in the processes for incorporating alternative assets into these retirement schemes.

The statement further mentioned that more than 90 million Americans participate in these plans, yet most are currently restricted from investing in alternative assets. The inclusion of these assets is anticipated to offer higher returns and diversify portfolios. The directive mandates that the Secretary of Labor consult with the Secretary of the Treasury, the Securities and Exchange Commission (SEC), and other relevant Federal regulators to align regulatory changes with the policy objectives of the order.

In a related move, Trump signed another executive order to prevent discrimination by US banks against customers based on political views, religious beliefs, or legitimate business activities. The order calls on banking regulators to abolish rules that permit the unjust denial of services under the guise of "reputation risk."