New Retirement Bill Could Impact Crypto Market

[Tanko]

New congressional bill could impact Crypto Market"

Congress is set to consider several bills after the mid-terms which will impact retirement accounts (401k, IRA, etc...). One of these bills is "Retirement Savings Modernization Act". Two versions of this bill have been developed. One in the House and one in the Senate. They will need to work out their differences. It has bipartisan support so it will likely pass.

This bill opens up retirement accounts to invest in more asset classes, including crypto. Previously, in most retirement accounts, the fiduciaires limited what they would invest peoples money in to stocks, mutual funds, bonds, etc... to avoid the potential for being sued for risky moves (e.g crypto). With this bill, it would allow crypto, real-estate, hedge funds, insurance markets, etc... investments without that risk.

So with retirement accounts being more open to invest in alternative assets, do you think this migh stimulate the crypto market?

New Bill Seeks to Encourage 401(k) Investment in Alternative Assets | PLANADVISER

The Retirement Savings Modernization Act aims to clarify ERISA to incentivize retirement investment in assets such as real estate, private equity, and cryptocurrencies.

www.planadviser.com

 

[Wagerallsports]

I'll pass on my retirement fund relying on crypto to help it grow

 

[carolinakid]

with everything going on for some reason i just dont trust crypto sites as much as i use to here

 

[sharpsquare]

I am typically not against taking a little risk in an effort to find a bigger score but tying retirement accounts to the crypto markets that offer such volatility seems well I dunno a bit too much

 

[Tanko]

I agree with everyone's comments. Crypto seems too risky for your retirement fund. But, some of the younger crowd may start putting 401k into crypto with this change.

I'm thinking there could be upside for crypto demand as a result. Tough to gauge though with recession looming.

 

[sharpsquare]

I agree with everyone's comments. Crypto seems too risky for your retirement fund. But, some of the younger crowd may start putting 401k into crypto with this change.

I'm thinking there could be upside for crypto demand as a result. Tough to gauge though with recession looming.

You could be spot on here for sure. the young crowd def looks at this a bit differently

plus we all know crypto can really bounce due to many different types of news in its favor

 

[MinnesotaFats]

If this passes you'll have a US Digital in a few years, fully trackable.

Need to vote this down for privacy reasons.

Fukking Democrats bringing the most totalitarian legislation to votes repeatedly.

Everytime liberals get in power we lose rights & privacy & localization

 

[Tanko]

If this passes you'll have a US Digital in a few years, fully trackable.

Need to vote this down for privacy reasons.

Fukking Democrats bringing the most totalitarian legislation to votes repeatedly.

Everytime liberals get in power we lose rights & privacy & localization

You can't be more wrong on this bill.
This is 100% bipartisan. They think it will pass with 90+ votes in the senate. I think conservatives initiated the bill and got Dems on board with ease.

 

[MinnesotaFats]

You can't be more wrong on this bill.
This is 100% bipartisan. They think it will pass with 90+ votes in the senate. I think conservatives initiated the bill and got Dems on board with ease.

The GOP wants the bill for the expanded retirement fund options, but what you'll get is increased scrutiny over taxation options and the pathway to trackable digital dollars. It's the unintended consequence of a well intentioned idea.

Now, if Pelosi controls the House & Shumer the Senate, how could THE GOP bring the bill to committee? They have 0 parliamentary procedural power.

 

[Tanko]

The GOP wants the bill for the expanded retirement fund options, but what you'll get is increased scrutiny over taxation options and the pathway to trackable digital dollars. It's the unintended consequence of a well intentioned idea.

Now, if Pelosi controls the House & Shumer the Senate, how could THE GOP bring the bill to committee? They have 0 parliamentary procedural power.

You're probably right about increase crypto monitoring.

As far as bringing the bill to committe, the bills (one in House, one in Senate) have both republican and democrat sponsors and majority support from both parties to pursue these options. I don't think it will get killed by one side or the other unless someone tries to tag a BS amendment to it that pisses the other side off.