{"id":91966,"date":"2026-05-13T07:01:34","date_gmt":"2026-05-13T07:01:34","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=91966"},"modified":"2026-05-13T07:01:34","modified_gmt":"2026-05-13T07:01:34","slug":"clarity-act-hits-another-wall-labor-unions-demand-changes-ahead-of-may-14","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=91966","title":{"rendered":"CLARITY Act Hits Another Wall\u2014Labor Unions Demand Changes Ahead Of May 14"},"content":{"rendered":"
\n

Ahead of the Senate Banking Committee\u2019s anticipated markup of the CLARITY Act on Thursday, the bill is facing a fresh wave of opposition\u2014this time from major labor unions.\u00a0<\/p>\n

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 workers who have little control over how their savings are managed.<\/p>\n

Labor Unions Raise Alarm On CLARITY Act<\/h2>\n

According <\/a>to CNBC, a letter and email first seen by the network show the AFL-CIO, along with the Service Employees International Union, American Federation of Teachers, National Education Association, and the American Federation of State, County and Municipal Employees sent a message to every senator on Friday.\u00a0<\/p>\n

The unions said the legislation \u201cjeopardizes the stability of workers\u2019 retirement plans, including public pensions, and introduces significant volatility to retirement savings accounts.\u201d\u00a0<\/p>\n

They also warned that the bill encourages the crypto industry<\/a> to take \u201coutsized risks,\u201d arguing that if those bets fail, the costs would fall on working people and retirees rather than on crypto executives or wealthy investors.<\/p>\n

The AFL-CIO also reportedly sent an additional email to members of the Senate Banking Committee on Friday. In that message, the union argued that without \u201csufficient regulation,\u201d embedding cryptocurrencies and other digital assets into the broader economy could destabilize workers\u2019 financial stability.<\/p>\n

The labor push adds to pressure already building from the banking sector, where trade groups have been pushing for revisions to key CLARITY Act provisions and to parts of the GENIUS Act<\/a> for stablecoins that have already been enacted.\u00a0<\/p>\n

Last-Ditch Pitch Ahead Of Hearing<\/h2>\n

As Bitcoinist reported <\/a>on Monday, Banking trade groups have opposed the stablecoin-rewards provision, arguing it gives crypto companies too much flexibility and could pull deposits away from the regulated banking system.\u00a0<\/p>\n

They also described what they said is a last-ditch effort to win over skeptical Republicans on the Senate Banking Committee ahead of the upcoming hearing.<\/p>\n

Even as criticism mounts, senators say negotiations have been ongoing and the committee\u2019s markup<\/a> is now expected to be based on newly released CLARITY Act text.\u00a0<\/p>\n

On Monday night, Senate Banking Committee Chairman Tim Scott, Subcommittee on Digital Assets Chair Cynthia Lummis, and Senator Thom Tillis, released market structure bill language.<\/p>\n

Updated Digital Asset Text<\/p>\n

In their release<\/a>, the senators said the text reflects \u201ccontinued negotiations with Democratic colleagues\u201d and extensive input from lawmakers, regulators, law enforcement, financial institutions, innovators, and consumer advocates.\u00a0<\/p>\n

Chairman Scott said the CLARITY Act reflects what he described as good-faith work that will benefit \u201cfamilies, small businesses, investors, and innovators\u201d by offering clear rules.\u00a0<\/p>\n

He added that the CLARITY Act is intended to deliver certainty, safeguards, and accountability, put consumers first, combat illicit finance, and crack down on criminals and foreign adversaries\u2014while also keeping what he characterized as the future of finance in the United States<\/a>.<\/p>\n

Lummis, who said Wyoming \u201cled the way\u201d on digital asset legislation and that Washington is now catching up, praised the updated text as the product of nearly a year of bipartisan work.\u00a0<\/p>\n

She described it as bringing the CLARITY Act one step closer to giving the industry the clarity it says it needs, and framed the markup as a move toward solidifying US leadership in digital asset advancement.<\/p>\n

\"CLARITY<\/p>\n

Featured image created with OpenArt, chart from TradingView.com\u00a0<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Ahead of the Senate Banking Committee\u2019s anticipated markup of the CLARITY Act on Thursday, the bill is facing a fresh wave of opposition\u2014this time from major labor unions.\u00a0 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 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-91966","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/91966","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=91966"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/91966\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=91966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=91966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=91966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}