Ohio State Senator Niraj Antani has introduced a bill to legalize cryptocurrency payments for state and local taxes. Emphasizing the importance of cryptocurrency in the present economy, the bill requires Ohio to accept digital currencies like bitcoin and allows state retirement systems to invest in them. Antani highlights Ohio’s historical role in cryptocurrency adoption. Ohio…
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The US state of Arizona has joined a slew of pro-Bitcoin states in embracing the asset class. Arizona Senate has proposed a resolution to consider recently-approved Bitcoin ETFs as potential investments tool for the state’s retirement system. Arizona has already been proven open to technological advances. In January 2023, it introduced a bill which would…
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Marcel Pechman explains the myth of excess cash in U.S. households and the lack of sufficient savings, and how a U.S. government shutdown could impact Bitcoin. On the latest episode of Macro Markets, analyst Marcel Pechman examines the current state of the American economy. He references a headline from Barron’s that highlights the disparity between…
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A survey from the Financial Industry Regulatory Authority (FINRA) suggests that new crypto investors tended to be swayed by suggestions from friends, compared to equities or bond investors. Influence from friends and the fear of missing out (FOMO) were some of the reasons investors bought crypto for the first time in 2022, according to a…
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Some investment experts believe adding digital assets to retirement funds could make sense when the market becomes more stable, but not right now. Even as the crypto market continues to forge an impressive recovery from the 2022 bear market, the industry continues to attract the wrath of regulators worldwide, especially in the United States. Three…
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Four Republican senators have signed on to a bill aimed at barring the U.S. Department of Labor from investigating individuals “using brokerage windows to invest in cryptocurrency.” Alabama Senator Tommy Tuberville has reintroduced legislation aiming to allow United States 401(k) retirement plans to include exposure to cryptocurrencies. In a Feb. 15 announcement, Tuberville said the…
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The financial watchdogs targeted self-directed individual retirement accounts with potential exposure to crypto in a warning to investors. Three financial watchdogs in the United States have issued a warning to investors considering certain individual retirement accounts with exposure to cryptocurrencies. In a Feb. 7 notice, the United States Securities and Exchange Commission’s Office of Investor…
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The global economy is tumbling, but we might be able to find some hope in cryptocurrencies. Around the world, personal financial stress is peaking. A recent study in America found that more than three in four people feel anxious about their financial situation. This is seeding anti-risk mentalities and prompting fears around the safety of…
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Crypto critic Elizabeth Warren and two colleagues write to the Fidelity CEO again to express their displeasure with crypto-exposed 401(k) offerings. Three United States senators have written to Fidelity Investments CEO Abigail Johnson demanding an explanation for the financial services company’s decision to include Bitcoin-exposed funds in its 401(k) retirement plans. “This decision is immensely…
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Last week was marked by reinvigorated discussion on crypto 401(k) among high-profile US policymakers. Retirement plans still largely remain at the periphery of both crypto adoption and the regulatory discussion. But last week, a major development emerged in this department. United States Senators Elizabeth Warren of Massachusetts and Tina Smith of Minnesota became concerned about…
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