The AFL-CIO, the largest federation of unions in the United States, has expressed opposition to the Senate version of the CLARITY Act. In a letter to senators, the union warned that the legislation could lead to the inclusion of digital assets in pension plans, 401(k)s, and the broader financial system without adequate regulation.
While the CLARITY Act does not explicitly mandate the purchase of cryptocurrencies by pension funds, it aims to clarify the classification and market rules for digital assets. This clarification could potentially make it easier for such products to be considered in retirement plan evaluations, raising concerns about regulatory oversight.
AFL-CIO Opposes Senate Version of CLARITY Act Over Pension Concerns
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