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Five Labor Unions Oppose Senate Crypto Bill Ahead of Thursday Committee Markup

GateNews
Regulation & Policy

According to CNBC, five labor organizations opposed a pending Senate crypto market structure bill on Tuesday, warning it would expose worker retirement accounts to cryptocurrency volatility. The groups—AFL-CIO, Service Employees International Union, American Federation of Teachers, National Education Association, and American Federation of State, County and Municipal Employees—said in May 9 letters that the legislation jeopardizes retirement plan stability and could introduce significant volatility, with workers bearing potential losses rather than crypto firms. The Senate Banking Committee is scheduled to markup the bill on Thursday.

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