American Teachers' Union Criticizes the Crypto Law

Crypto Law Creates Risk in Markets

American Federation of Teachers has called for a reevaluation of a crypto law aimed at the U.S. Senate. The union highlighted that the retirement funds of its 1.8 million members and general economic security are at risk.

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

Additionally, AFL-CIO and the Institute of Internal Auditors have opposed this law, emphasizing that it is inadequate in protecting consumers and that solid governance cannot be ensured in crypto exchanges.