Source: Cointelegraph Original: "{title}"

Senator Tommy Tuberville of Alabama plans to reintroduce a bill aimed at allowing Americans to include cryptocurrency in their retirement savings plans.

In an interview with Fox News on March 31, Tuberville stated that he intends to reintroduce legislation called the Financial Freedoms Act. The bill had previously attempted to pass through Congress in 2022 and 2023 but was unsuccessful on both occasions. In announcing this bill, the Alabama senator expressed his desire to support President Trump in his public image as the "crypto president."

"Giving people a chance to breathe […] letting them do what they do best, which is invest their own money," Tuberville said.

The Financial Freedoms Act was initially introduced by Tuberville in the U.S. Senate in May 2022, aiming to reduce the U.S. Department of Labor's regulation on the types of investments that 401(k) plan trustees can make. However, despite Tuberville stating that he would reintroduce the bill on April 1, as of the publication of this article, congressional records show no related progress.

Senator Cynthia Lummis of Wyoming was a co-sponsor of the 2023 bill, but it remains unclear whether she will support the bill again as of the publication of this article. In a 2022 interview, the Republican senator stated that she "strongly supports ensuring that people can include Bitcoin (BTC) in their retirement funds."

As the cryptocurrency retirement bill is proposed, Republican-controlled congressional members are considering legislation regarding market structure rules for the crypto industry and stablecoin regulation. Supporters of the bill suggest that lawmakers submit these bills to President Trump for signing into law before the August recess, or else these issues may become more politicized.

Additionally, Florida voters will decide on April 1 who will represent the state's 1st and 6th congressional districts in the House of Representatives. Republican candidates Jimmy Patronis and Randy Fine have received support from the cryptocurrency industry, which has been facilitated through media campaigns funded by the Defend American Jobs PAC. As of March 22, the political action committee has spent approximately $1.5 million supporting these two candidates.

Related: Candidates supported by cryptocurrency PACs make a final push to Florida voters

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