Alabama Senator Tommy Tuberville has introduced a new bill that could pave the way for crypto assets to be included as part of 401(k) retirement plans.
Alabama Senator Tommy Tuberville has introduced a new bill that could pave the way for crypto assets to be included as part of 401 retirement plans.
In March, the U.S. Department of Labor released regulatory guidance in an attempt to prohibit 401 accounts from investing in crypto assets, singling out that specific asset class. A 401 is an employer-sponsored defined-contribution pension plan.Previously, pension plan participants could use “brokerage windows,” a tool used by savers to self-select their retirement investments.
“Whether or not you believe in the long-term economic prospects of cryptocurrency, the choice of what you invest your retirement savings in should be yours — not that of the government.”to make crypto assets more accessible to Americans and stem the tide of heavy-handed regulation that the incumbent political stalwarts seem intent to impose.In a related development, crypto’s most vehement critic, Senator Elizabeth Warren, has been on the warpath yet again.
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