As Bitcoin starts inching back up, I\u2019m in the black again and expect more clamor for crypto options in 401(k) plans.<\/p>\n
Senator Tommy Tuberville, R-Alabama, reintroduced legislation to create a law, the Financial Freedom Act which calls to roll back any Department of Labor (DOL) guidance that limits the type of investments self-directed 401(k) account investors can select through a brokerage window.<\/p>\n
Tuberville\u2019s bill is trying to reverse 2022 guidance in which the DOL warned that fiduciaries could be liable if offering cryptocurrency through a participant-directed option.<\/p>\n
With a Democrat-controlled Senate with no Democrats co-sponsoring the bill and a Democrat-controlled White House, I expect this to go nowhere.<\/p>\n
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