AFL-CIO Opposes Senate CLARITY Act Over Retirement Concerns

The AFL-CIO has expressed opposition to the Senate CLARITY Act, citing concerns about the potential impact on retirement funds. According to NS3.AI, the organization sent a letter to senators on May 11, urging them to reject the bill. The AFL-CIO warned that the legislation could lead to the inclusion of digital assets in pension plans and retirement accounts, as well as the broader financial system, under inadequate oversight. This warning was issued prior to the Senate Banking Committee's advancement of H.R. 3633 with a 15-9 vote.