Updated Talking Points: Crypto Legislation (GENIUS and CLARITY Acts)

AFL-CIO Opposes Both Bills: Bad for Workers, Great for Billionaires

Labor's Warning to Lawmakers

Every Senator or Representative who voted for this bill will be held accountable on the AFL-CIO Congressional Scorecard that must be used when considering endorsements in 2026.

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We will not forget who stood with working families — and who sided with crypto speculators and billionaire tech firms. These votes will be tracked, publicized, and used to inform union members and our allies in every election going forward.

AFL-CIO Principles at Stake

We support responsible innovation — but not at the expense of worker protections. These bills violate two core labor priorities:

1. Unregulated and poorly regulated assets pose a risk to pensions and retirement funds.
2. Proper regulation of financial markets reduces the risk of financial crisis and economic harm for working people.

The GENIUS Act — “Stablecoins” on a Shaky Foundation

Status: Passed House 308–122. Heading to Trump’s desk.

Backed by over 100 House Democrats, despite fierce opposition from some.

• Gives crypto companies their dream: legitimacy with minimal oversight.
• Introduces “stablecoins” — digital assets tied to the dollar — but weakens the quality of the assets backing them, creating a false sense of stability.
• Opens the door for Big Tech to operate like banks without meeting the same regulatory standards or consumer protections.
• Direct conflict of interest: Trump and his sons have direct stakes in a stablecoin company that would benefit from this bill.

Bottom Line: This bill isn’t genius — it’s regulatory capture, crony capitalism, and a ticking time bomb for working-class investors.

The CLARITY Act — Deregulation Disguised as Definition

Status: Passed House 294–134. Moving to the Senate.
Backed by 78 Democrats, including Nancy Pelosi and Pete Aguilar.

• Redefines crypto assets to sidestep SEC regulation.
• Creates carve-outs that shield the industry from the same rules that govern stocks and bonds.
• Erodes investor protections and exposes retirement funds to increased risk.
• Paves the way for crypto to be quietly inserted into pension funds and 401(k)s — without adequate disclosure, regulation, or oversight.

Bottom Line: This bill gives the illusion of reform while delivering a gift-wrapped deregulatory agenda to crypto giants.

Crypto Lobby Wins Big — Working People Get the Bill

• Bipartisan crypto cash-in: Over 100 Democrats joined Republicans in handing a massive win to crypto companies.
• Super PACs and lobbying dollars are driving policy — not public interest.
• Trump and his family stand to profit from legislation they helped shape from the shadows.

What’s at Risk?

• Retirement Security: Crypto’s volatility and lack of accountability threaten long-term retirement investments for working people, especially.
• Financial Stability: As 2008 proved, underregulated markets eventually crash — and working people pay the price, losing their homes, life savings and financial security.
• Public Trust: A president signing a bill that benefits his own crypto firm is textbook corruption.

Final Word from Labor

CLARITY and GENIUS don’t protect consumers — they protect crypto profits. These bills open the door to another financial crisis, normalize speculation in retirement portfolios, and directly enrich a former president's family business.