PANews reported on April 2 that according to Cointelegraph, U.S. Alabama Senator Tommy Tuberville plans to promote the Financial Freedom Act legislation for the third time, which aims to allow Americans to include cryptocurrencies in their retirement savings plans. The Republican congressman said in an interview with Fox News on March 31 that he would resubmit the bill, which had failed twice in 2022 and 2023, on April 1, and said that this move was intended to help President Trump shape the image of a "crypto-friendly president."
The core content of the bill is to limit the regulatory authority of the U.S. Department of Labor over the investment targets of 401(k) retirement plans. It 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 had not confirmed her latest position as of press time. The advancement of this crypto pension bill coincided with the 119th session of the Republican-led Congress to review the cryptocurrency market structure bill and the stablecoin regulatory framework. Supporters called for the relevant bill to be submitted to President Trump for signature before the August congressional recess to avoid interference from later political factors.
