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Republicans Plan to Reintroduce Legislation to Prevent Crypto Restrictions in 401(k): Politico
The legislation will be introduced in the House by Rep. Byron Donalds (R-Fla), the report said.
Updated Feb 15, 2023, 4:21 p.m. Published Feb 15, 2023, 1:35 p.m.
CORRECTION (Feb. 15, 16:05 UTC): Rewrites headline, first paragraph. An earlier version of this story said the legislation was aimed at restricting crypto.
U.S. Sen. Tommy Tuberville (R-Ala.) plans to reintroduce legislation on Wednesday that would stop the Labor Department from preventing employers and investment firms from offering crypto as part of 401(k) retirement plans, Politico reported.
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The legislation will be introduced in the House by Rep. Byron Donalds (R-Fla.), the report added.
U.S. lawmakers had asked investment giant Fidelity to reconsider its bitcoin-based 401(k) offering after the collapse of crypto exchange FTX.
Tuberville's office did not immediately respond to CoinDesk's request for comment.
Read more: US Senators Ask Fidelity to Reconsider Bitcoin 401(k) Offerings Following FTX Collapse
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