For the second time, Alabama Senator Tommy Tuberville is preparing to reintroduce a bill that would permit Americans to include cryptocurrency in their retirement savings plans.
During a March 31 interview with Fox News, Sen. Tuberville expressed his intention to reintroduce the “Financial Freedoms Act” following two unsuccessful attempts to advance the legislation in 2022 and 2023. In his announcement, the Senator mentioned his goal of supporting the idea of a “crypto president” as championed by former President Donald Trump.
“Give people a chance to breathe for once […] let them do what they do best [which] is invest their money,” the senator remarked.
The Financial Freedom Act was first put forth in the Senate in May 2022 and aimed to reduce regulations imposed by the Department of Labor concerning the types of investments that 401(k) plan fiduciaries can use. Tuberville indicated he would reintroduce the bill on April 1, yet congressional records showed no progress by the time of publication.
This is an evolving story, and updates will be provided as more information becomes available.