U.S. Labor Groups Oppose Clarity Act Ahead of Congress Vote

Major U.S. labor organizations, including the AFL-CIO and SEIU, have expressed opposition to the Clarity Act prior to its scheduled vote in Congress this Thursday. According to NS3.AI, these groups argue that integrating the virtual asset industry into the regulatory framework could jeopardize financial stability and endanger workers' retirement funds. Additionally, the banking sector has raised concerns about a provision in the bill that would permit interest payments on stablecoins.