US Senator Tommy Tuberville is set to reintroduce the Financial Freedom Act. The bill would enable Americans to invest their retirement funds in cryptocurrencies.

Tuberville emphasised that the US is a 'country of freedom.' He criticised the previous administration for imposing strict regulations on investments.

He also praised President Trump, calling him the 'Crypto President.' Tuberville noted that the Biden administration had been reluctant to support crypto.

The Financial Freedom Act, initially introduced in 2022, seeks to reverse Department of Labor (DOL) guidance. The guidance limits investment options for self-directed 401(k) account holders.

Tuberville has argued that excessive regulation hampers financial growth and restricts personal liberty. The bill would allow more freedom for individuals to select the types of investments they want in their retirement funds, including cryptocurrencies.

Senator Cynthia Lummis has championed the idea of adding cryptocurrencies to retirement portfolios. Ivory Johnson, a financial planner, supports this, recommending that crypto make up 2% to 8% of a portfolio.

However, financial experts like Amy Arnott warn that adding crypto could increase risks. It might show especially if the market suffers a downturn during retirement.

For more information on these topics, visit diplomacy.edu.