Senator from Alabama Tommy Tuberville will introduce legislation on Wednesday aimed at preventing the Department of Labor (DOL) from blocking corporations and financial firms from including cryptocurrencies in 401(k) pension plans.
Florida Senator Byron Donalds is the sponsor of the bill in the house.
Both Tuberville and Donalds are Republicans.
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The move comes in response to the DOL, which has threatened to investigate pension plan administrators if they invest employees’ money in digital assets.
“The federal government shouldn’t pick winners and losers in the investment game,” Tuberville said loudly Politically.
The downward spiral, bankruptcyAnd ongoing investigations from FTX — formerly one of the largest cryptocurrency exchanges in the world — prompted the DOL to question the very process of investing in cryptocurrencies in retirement funds in the first place.
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