🚨 The largest teachers' union in the United States lashes out at the cryptocurrency bill: Don't shove digital assets into our retirement funds

The American Federation of Teachers (AFT) — one of the largest teachers' unions in the country representing 1.8 million educators —

formally submitted a petition to the Senate requesting the withdrawal of the "Cryptocurrency Market Structure Bill."

CNBC was the first to disclose this heavyweight document.

📌 AFT's key point: This bill will expose pensions to huge risks

AFT President Randi Weingarten wrote in the letter:

➡️ The bill does not provide the necessary regulatory protections

➡️ Instead, it will expose working-class families, who have nothing to do with cryptocurrency, to financial risks

➡️ It could even undermine the stability of their retirement security

In a nutshell:

"Don't gamble our pensions on cryptocurrency."

🏛️ The two main concerns of the union

1️⃣ Pensions may passively engage with digital assets

The bill could pave the way for digital assets to enter:

• Pensions

• 401(k)

• Other retirement portfolios

AFT believes this is extremely irresponsible for groups with limited risk tolerance.

2️⃣ Non-crypto companies can exploit "equity tokenization" to evade securities regulation

Weingarten pointed out a key loophole:

➡️ Companies can tokenize equity → put it on the chain → bypass the registration, disclosure, and regulation of traditional securities laws

This will lead to:

• Investor protection being weakened

• Regulatory accountability failing

• Traditional assets may also be contaminated into "unsafe assets"

She warned:

"Even if pensions invest in traditional securities, they may ultimately be forced to hold risky assets."

⚠️ AFT's bigger concern: It may lay the groundwork for the next financial crisis

The letter also pointed out that the bill lacks sufficient regulation of crypto-related illegal activities,

and the loopholes could lead to greater systemic risks.

📝 A summary in one sentence

AFT is not against crypto, but opposes letting pensions bear crypto risks,

especially in a context where regulation is not yet complete and tokenization may bypass securities laws.