cryptonews: On Feb. 15, Sen. Tommy Tuberville announced the reintroduction of his 2022 bill to legalize the purchase of cryptocurrencies with 401(k) retirement account funds. 👀
On Feb. 15, Sen. Tommy Tuberville announced the reintroduction of his 2022 bill to legalize the purchase of cryptocurrencies with 401 retirement account funds.
Fidelity's announcement last year that it allowed plan sponsors to permit participants to invest up to 20% of their 401s on Bitcoin via digital asset accounts brought an outpouring of opposition from the DoL and other regulatory agencies warning of dire consequences for allowing such investments. Sen. Tuberville takes the opposite perspective. His bill would "reverse existing U.S. Department of Labor policy and prohibit any future regulatory guidance that limits the type of investments self-directed 401 account investors can select through a brokerage window." He said:
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