American Teachers Union Criticizes the Crypto Law

Crypto Law Poses Risks in the Markets

American Federation of Teachers has called for a reassessment of a crypto law directed at the U.S. Senate. This law highlights that the retirement funds of its 1.8 million members and overall economic security are at risk.

The Responsible Financial Innovation Act, aiming to regulate digital assets, is supported by Senators Cynthia Lummis and Bernie Moreno. However, there are serious concerns about tokenized securities related to this law.

Additionally, AFL-CIO and the Institute of Internal Auditors have opposed this legislation, emphasizing that it is inadequate in consumer protection and fails to ensure solid governance in cryptocurrency exchanges.