TheBlock
Five major labor groups — including the AFL-CIO and SEIU — have warned senators that the crypto market structure bill could jeopardize retirement plans and public pensions, according to CNBC. The warning lands just ahead of Thursday's Senate committee markup, raising the political stakes for a bill that was already navigating a crowded field of opposition.
The banking industry has separately broken against the bill over provisions it says would allow crypto firms to offer returns on stablecoin holdings — a structure banks argue threatens deposit stability and could accelerate outflows from traditional accounts.
The convergence of organized labor and the banking sector in opposition signals that the bill faces a broader coalition of resistance than its sponsors anticipated, and Thursday's markup could see significant amendment pressure from both flanks.
CoinTelegraph
WatcherGuru