According to Cointelgraph, Senator Tommy Tuberville of Alabama plans to promote the legislation of the Financial Freedom Act for the third time, which aims to allow Americans to include cryptocurrency in retirement savings plans. The Republican congressman stated in an interview with Fox News on March 31 that he will resubmit the bill, which failed twice in 2022 and 2023, on April 1, and stated that this move is intended to help President Trump shape his image as a "crypto friendly president".
The core content of this bill is to limit the regulatory authority of the US Department of Labor over the investment targets of 401 (k) retirement plans, which was first proposed in May 2022. It is worth noting that Wyoming Senator Cynthia Lummis co signed the 2023 version of the bill. The Republican had previously publicly expressed support for "including Bitcoin in retirement funds," but as of press time, her latest position has not been confirmed. The advancement of this encrypted pension bill coincides with the Republican led 119th session of Congress reviewing the Cryptocurrency Market Structure Act and the stablecoin regulatory framework. Supporters are calling for the relevant bill to be submitted to President Trump for signature before the August congressional recess to avoid political interference in the future.
