Rep. Byron Donalds, a Florida Republican, introduced the Financial Freedom Act into the United States House of Representatives on Friday to prevent the U.S. Department of Labor from limiting the types of investments that can be included in Americans’ self-directed 401(k) retirement plans. The bill is the companion to Alabama Sen. Tommy Tuberville’s May 5 Senate bill.

Financial Freedom Act was enacted in response to U.S. Department of Labor (DOL), compliance Report dated March 10, which raised objectionsTo include cryptocurrencies into 401(k), retirement plans The report Warned the department’s Employee Benefits Security Administration “expects to conduct an investigative program aimed at plans that offer participant investments in cryptocurrencies and related products, and to take appropriate action to protect the interests of plan participants and beneficiaries with respect to these investments.”