WASHINGTON — President Donald Trump is expected to sign an executive order on Thursday that aims to allow private equity, real estate, cryptocurrency and other alternative assets in 401(k) retirement accounts, a White House official said.

The order smoothes the way for private equity and other fund managers to tap into trillions of dollars of Americans’ retirement savings. It could open up a vast new funding source to managers of so-called alternative assets outside of stocks, bonds and cash, though critics say it also could bring too much risk into retirement investments.

“The order directs the Securities and Exchange Commission to facilitate access to alternative assets for participant-directed defined-contribution retirement savings plans by revising applicable regulations and guidanc

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