U.S. Lawmakers Draft Bill To Allow Bitcoin, Crypto In 401(k) Plans

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The bill amends ERISA of 1974 to include digital assets under “covered investments,” thereby shielding investment managers from liability.Republican lawmakers drafted a bill enabling investment managers to offer bitcoin in 401(k) plans.The bill seeks to remove liability for a breach of fiduciary duty for offering access to bitcoin and cryptocurrencies. The bill is likely to be presented following the midterm elections in November 2022. Three republican members of Congress presented a bill, named the Retirement Savings Modernization Act, designed to enable investment managers to offer bitco ...

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