- Sen. Tuberville reintroduced the Financial Freedom Act to boost crypto in retirement plans.
- This act aims to prevent the Department of Labor from limiting investment choices.
- Tuberville criticized Biden for controlling the investment of citizens during his tenure.
Making a bold move, Alabama Senator Tommy Tuberville announced that he would reintroduce the Financial Freedom Act, allowing cryptocurrency investments in retirement plans. Further, Tuberville criticized Biden’s policies and praised Trump as the “Crypto President.” Speaking at an interview, Tuberville stated that America is the country of freedom, but under Biden, the federal government tried to control how Americans invest their money. He emphasized that this was the reason behind reintroducing the Act.
The Financial Freedom Act was introduced in 2022 during the 117th Congress and reintroduced again in 2023 during the 118th Congress. This Act aims to prohibit the Department of Labor from limiting investment choices, enabling retired members to invest their retirement funds as they see fit, including cryptocurrency.
The re-introduction of the Act in 2023 is a response to the March 10, 2022, guidance released by the Employee Benefits Security Administration. The guidance prevented retirement investors from buying digital assets and limited their plans to offer brokerage options. And now, in 2025, Tuberville is reintroducing the Act to diversify people’s investments, stating that the Biden administration hammered American people with regulations. Tuberville’s advocacy gained support not only from groups like American Tax Reform and the Blockchain Association, but also from co-sponsors like Cynthia Lummis and Mike Braun.
Related: North Carolina Seeks to Invest Pensions in Cryptocurrency
Trump’s Pro-Crypto Revolution
After President Donald Trump took office on January 20, 2025, the entire American crypto environment has shifted from being a barrier to drawing back-to-back crypto-friendly policies. His administrative actions of launching World Liberty Financial and appointing pro-crypto advocate Mark Uyeda as the Acting SEC Chair have been pivotal shifts in the crypto ecosystem, a sharp contrast to Joe Biden’s administration.
Trump’s promises to make the US the “crypto capital” have been materializing, as he signed the Strategic Bitcoin Reserve earlier last month. The reserve, aligned with Tuberville’s Act, could potentially boost crypto adoption in retirement investments and transform the investment landscape. Although the re-introduction has not yet been officially released, Tuberville’s post suggests that the process is in its early stage.
