U.S. House of Representatives Byron Donalds has introduced a bill that will allow citizens to add Bitcoin to their retirement plans.
On May 20, US House of Representatives Byron Donalds introduced a bill that would allow citizens to include Bitcoin in their 401(k) plans (retirement). The bill, along with the Financial Freedom Act, was introduced in response to regulatory guidance issued by the U.S. Department of Labor in March. That guide recommended that investment companies not allow crypto in their 401(k) plans.
Donalds said in a statement on the matter, calling the Labor Department’s comments “a far-reaching effort to centralize power in Washington” and saying the guide “violates the founding principles of economic freedom and free markets.”
As we mentioned earlier, Fidelity announced a service that will allow citizens to add Bitcoin to their retirement plans if their workplaces allow it. The bill in question will also support this move of Fidelity.
