Labor Unions have chosen to side with the anti-crypto team regarding the CLARITY Act.

The legislation is scheduled for a markup hearing at the Senate Banking Committee this Thursday. It was recently reported that the Democrat ranking member on the Committee, Senator Elizabeth Warren, had sided with the legacy banking industry to oppose the bill. Today, the AFL-CIO issued a letter in support of Warren, claiming that the CLARITY Act will make wealthy individuals wealthier while putting the majority at greater risk.

Here is the CLARITY Act.

To quote the letter sent to the Senate:

“We are deeply concerned that this bill will prompt a flood of digital assets into pension plans, retirement accounts, and our broader financial system…