Teachers Union Urges Senate to Scrap Crypto Market Structure Bill
The American Federation of Teachers has urged Senate leaders to abandon its crypto market structure bill, warning it would expose working families’ pensions to fraud, unsafe assets, and “profound risks” to retirement security.
In a letter on Monday, AFT President Randi Weingarten wrote the Responsible Financial Innovation Act would strip away the few safeguards currently in place for crypto assets.
He said it would also erode long-standing protections for traditional securities and permit companies to place stock on a blockchain without registering or reporting under existing federal rules. CNBC was first to report the news.
The AFT is the American Federation of Teachers, one of the largest labor unions in the U.S. It…
