Bill to allow retirement fund investment into crypto to be introduced in US
US Senator Tommy Tuberville presented a new bill which, once passed, would preserve the ability of Americans who are retiring to invest their 401(k) funds as they want, including investing in cryptocurrencies
By Shashank Bhardwaj
Image: Anna Moneymaker /Getty Images via AFP
Senator Tommy Tuberville presented a bill in the US Parliament that will potentially act as a barrier to the government’s attempts to restrict bitcoin (BTC) and other cryptocurrencies as an investment avenue under the 401(k) retirement plans. The bill, once passed, would preserve the ability of the people retiring to invest their 401(k) funds as they want, including investment in cryptocurrencies.
Senator Tuberville will present the Financial Freedom Act of 2022, which contains provisions to counter the Department of Labour’s (DOL) attempts to restrict cryptocurrencies as a choice for 401(k) self-directed retirement plans. The legislation would have guidelines for ensuring that financial institutions and employers don’t face any legal troubles if they offer virtual assets as an investment option under the 401(k) retirement plan.
The writer is the founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash
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Coinbase is producing a movie trilogy on Bored Ape NFTsRead More..
Multiple Indian Twitter accounts hacked, NFT content postedRead More..
German police shut down $1.3 billion illegal darknet firmRead More..
Meta tests sale of virtual goods in metaverseRead More..
Bitcoin 2022 Conference: Bitcoin Maximalists attack national currenciesRead More..
Binance Gets In-Principle Approval to Operate as Crypto Broker in Abu DhabiRead More..
EU limits Russians' crypto investments to 10k EurosRead More..
Coinbase suspends UPI payments in India three days after launchRead More..
From KFC to Tesla, Dell: Crypto-curious corporations struggle to find right recipeRead More..
In Texas, crypto miners turn to solar powerRead More..
South Africa concludes technical Proof-of-Concept for its CBDC settlement systemRead More..
Terra buys $200 million in AVAX for reservesRead More..
Bitcoin will remain as a standard: Chess world champion Garry KasparovRead More..
Coinbase launches in IndiaRead More..
Meta working on virtual money 'Zuck Bucks': reportRead More..
Germany closes Russian darknet marketplace HydraRead More..
Britain paves way to accept stablecoinRead More..
Crypto industry reels from $600 million hackRead More..
NFT of Nelson Mandela's arrest warrant auctioned for $130,000Read More..
Bank of England calls for tighter regulation of cryptocurrenciesRead More..
ECB's Lagarde 'concerned' about crypto use to dodge Russia sanctionsRead More..
Crypto provides fix for some in crisis-hit AfghanistanRead More..
Bitcoin to the rescue: Cryptocurrencies' role in UkraineRead More..
Digital art in spotlight as Dubai makes crypto hub bidRead More..
G7 looks to thwart cryptoassets use as Russian sanctions dodgeRead More..
Can cryptocurrencies give Russia, others breather from economic sanctions?Read More..
Cryptocurrencies enter Russia-Ukraine conflictRead More..
Russia seeks to regulate cryptocurrenciesRead More..
Donald Trump's NFT collection to laud his own presidencyRead More..