Donald Trump · CLARITY Act · US Senate · U.S. · CryptoSlate
US labor federation cautions CLARITY Act could push crypto closer to workers’ retirement money
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The AFL-CIO says clearer crypto market rules could make digital assets easier to package into 401(k) and retirement investment products before stronger safeguards are in place.
Key facts
- In 2025, DOL rescinded its 2022 crypto-specific warning to 401(k) fiduciaries, returning to a more neutral ERISA process standard
- The warning landed days before the Senate Banking Committee advanced H.R. 3633 in a 15-9 vote, sending the crypto market-structure bill toward a harder floor fight
- In March 2026, the agency proposed a rule to create process-based safe harbors for selecting alternative assets in 401(k) plan menus, including investment vehicles with digital-asset exposure
- A follow-up analysis noted that Galaxy Research raised its 2026 passage odds to 75% after the vote but still pointed to ethics demands, DeFi language, and the compressed calendar as live constraints
Summary
The AFL-CIO is trying to recast the Senate CLARITY Act from a fight over banks, stablecoin rewards, and crypto market structure into a fight over workers' retirement money. The AFL-CIO is the American Federation of Labor and Congress of Industrial Organizations, the largest federation of labor unions in the United States, representing millions of workers across dozens of unions. In a May 11 letter to senators, the labor federation urged lawmakers to oppose the Senate version of the House's Digital Asset Market Clarity Act. The group warned that the bill could push digital assets into pension plans, retirement accounts, and the broader financial system under weak oversight.