The US may allow bitcoin in pension savings

On Friday, May 21, House Republicans presented a bill that would prohibit the Department of Labor from restricting investment opportunities. In addition, the law will allow Americans to include bitcoin in their 401(k) retirement plan if they so choose.

The so-called Financial Freedom Act was introduced by Florida Republican Byron Donalds.

Last month, Fidelity announced that it intends to start offering bitcoin as an investment option in its 401(k) retirement savings plans by the middle of this year. This raised the alarm of many Democratic lawmakers, including Senator Elizabeth Warren, who expressed concern that the company could be exposing its clients to a «risky and speculative gamble.»

Republicans rushed to Fidelity’s defense, accusing Democrats of excessive government activity and rights violations. The deputies emphasized that it is not only about cryptocurrencies but also about the independence of investors and financial institutions.

Earlier, MicroStrategy called bitcoin an ideal asset for pension investments.