Three congressional Republicans have introduced legislation that aims to broaden the type of investments that managers of 401(k)s and other defined contribution plans can make, including into digital assets. The Retirement Savings Modernization Act would also allow fiduciaries to recommend cryptocurrencies, or other traditional finance investments, like into hedge funds or private equity, without legal liability. The legislation has the backing of three Republicans: outgoing Senate Banking Committee Ranking Member Pat Toomey (R-Pa.), Sen. Tim Scott (R-S.C.), and Rep. Peter Meijer (R-Mich.) in the House of ... (full story)