The U.S. Congress is urging the SEC to allow Bitcoin and cryptocurrencies to be included in 401(k) retirement plans.

According to Odaily Planet Daily, the U.S. Congress is urging the U.S. Securities and Exchange Commission (SEC) to approve the inclusion of Bitcoin and other cryptocurrencies in 401(k) retirement plans.

Members of the House Financial Services Committee have written to SEC Chairman Paul Atkins, urging him to update securities rules to treat digital assets as an equivalent investment class to other alternative investments in retirement accounts. The letter argues that Americans saving for retirement deserve more investment options, and that current rules are outdated and overly restrictive, preventing millions from accessing new asset classes. Furthermore, the letter emphasizes the need to redefine the criteria for "accredited investors." Current stringent investor eligibility requirements limit participation in parts of the private and alternative investment markets. (Cryptopolitan)