Article Summary

The AFL-CIO, America's largest labor federation, has voiced strong opposition to the proposed RFIA cryptocurrency regulation bill, citing serious concerns about pension fund investments. In a formal letter to the Senate Banking Committee on Monday, the union federation warned that the digital asset regulatory framework could expose workers' retirement savings to volatile cryptocurrency markets. The labor union's pushback highlights growing tension between traditional financial institutions and the expanding blockchain ecosystem. As lawmakers work to establish comprehensive cryptocurrency regulations, the AFL-CIO argues that Bitcoin and other digital assets pose unacceptable risks to pension portfolios that millions of American workers depend on for retirement security. This opposition could significantly impact the bill's passage, as labor unions wield considerable political influence in Washington. The controversy underscores broader debates about cryptocurrency adoption in institutional investing, particularly regarding DeFi protocols and digital asset integration into traditional financial systems. The AFL-CIO's stance reflects widespread concerns about blockchain technology's volatility and regulatory uncertainty, potentially slowing institutional cryptocurrency adoption across pension funds and retirement accounts nationwide.