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Ahead of the Senate Banking Committee’s anticipated markup of the CLARITY Act on Thursday, the bill is facing a fresh wave of opposition—this time from major labor unions. In a letter that warned senators the measure could put retirement security at risk, multiple unions argued the legislation would introduce new instability into retirement plans for […]
The post Labor Unions Join Banking Industry In Opposition To Senate Crypto Bill, The Clarity Act appeared on BitcoinEthereumNews.com. Five of the nation’s largest labor organizations are urging the Senate to vote against a pending cryptocurrency market structure bill, warning that the legislation would expose retirement accounts to digital asset volatility ahead of a key committee vote Thursday. The AFL-CIO, Service Employees International Union, American Federation of Teachers, National Education Association, and American Federation of State, County and Municipal Employees sent letters and emails to Senate Banking Committee members, according to CNBC, which obtained the correspondence first. The crypto industry takes ‘risks’ The groups wrote that the bill “jeopardizes the stability of workers’ retirement plans, including public pensions, and introduces significant volatility to retirement savings accounts.” “This legislation invites the cryptocurrency industry to take outsized risks,
Nine out of 10 workers express support for policies on artificial intelligence that labor unions may fight for US workers overwhelmingly support pro-worker policies on artificial intelligence (AI) and view labor unions as the most reliable protectors of workers from the effects of AI, according to a new poll released by the AFL-CIO, the largest federation of labor unions in the US. More than nine out of 10 workers surveyed expressed support for policies on artificial intelligence that labor unions may fight for, including 95% supporting a requirement that a human be the final decision maker on any issues affecting individual workers and their employment. Continue reading...
