Republican Senator Tommy Tuberville from Alabama has unveiled a new bill he calls the Financial Freedom Act to allow Americans to add cryptocurrency to their 401(k) retirement savings plan unencumbered by regulatory guidance.
The new bill is Tuberville’s response to the Department of Labor’s (DOL) push to potentially keep crypto out of 401(k) investment plans due to its perceived potential for risk to investors. As reported by Cointelegraph, the DOL said employees who choose to invest in crypto through their 401(k) could attract legal attention.
In an op-ed for CNBC on May 5, Senator Tuberville stated:
“The Federal Government has no business interfering with the ability of American workers to invest their 401(k) plan savings as they see fit.”
He said the DOL’s March 10 policy change against