Labor unions urge senators to oppose crypto legislation ahead of vote
Crypto Briefing
Five major US labor unions are pressuring senators to reject the Clarity Act, citing potential risks to workers' retirement savings.Summary
Five prominent US labor unions, including the AFL-CIO and SEIU, have issued a joint letter urging senators to oppose the Clarity Act ahead of a scheduled May 14 committee vote. The unions contend that the legislation, which aims to establish a federal regulatory framework for digital assets, poses significant risks to the $39 trillion held in public pensions and 401(k) plans. While proponents like Michael Saylor view the bill as essential for institutional adoption, critics argue it creates regulatory imbalances that could endanger consumer protections and systemic financial stability.
(Source：Crypto Briefing)