Reading time: ~2 m
Republicans presented a draft Financial Freedom Act, which significantly expands the ability of Americans to invest in bitcoin.
Florida Republican Party member Byron Donalds (Byron Donalds) presented in the House of Representatives a new bill, which was a response to attempts by the team of Democratic President Joe Biden to limit the types of investment available to Americans.
The document is aimed at prohibiting the Ministry of Finance from restricting the investment opportunities of employees using independent pension accounts. The law will also allow Americans to include Bitcoin (BTC) in their 401(k) plans at will. The proposal was a response to the topic under discussion about whether Fidelity Investment should be allowed to offer a retirement plan that involves investing in cryptocurrency.
In April, Fidelity announced that it intends to offer BTC as one of the options for investing in its 401(k) plans by mid-2022. That has alarmed many Democratic lawmakers, including the digital assets’ biggest opponent Elizabeth Warren, who have expressed concern that the company could expose its customers to “risky and speculative play.”
#Congress #introduced #law #allowing #bitcoin #retirement #accounts
