US Labor Union Pushes Back on RFIA Crypto Bill Over Pension Fears

The AFL-CIO, the largest labor federation in the US, sent a letter on Monday to members of the Senate Banking Committee opposing a draft bill that would create a regulatory framework for digital asset trading. The opposition raises concerns about the passage of the proposed Responsible Financial Innovation Act (RFIA), a delay that could hinder market growth. Why Are Labor Unions Opposing Crypto Bills? Why would a labor union oppose a crypto regulation bill? In a statement, Jody Calemine, Chief Legal Officer of the AFL-CIO, linked crypto deregulation to workers’ pensions. He argued that allowing retirement funds to pour into volatile crypto assets could threaten the overall financial stability of the US economy source: https://beincrypto.com/rfia-crypto-bill-labor-union-opposition/